Tycom Ltd News

Singapore-based ship repairer Keppel Hitachi Zosen Ltd said on Monday it won a contract worth about $161 million to build four cable-laying and repair vessels for TyCom Ltd. The company said in a statement that each of the 7,800 dwt ships would be used for installation and maintenance of the Tycom Global Network, a worldwide undersea fiber optic system being deployed by TyCom. Keppel Hitachi had already been awarded an earlier contract in April for two cable-laying and repair vessels. It said the first two vessels would be delivered in 2001 and the other four through 2002

Keppel Hitachi Zosen Limited (KHZ) will deliver its first cable laying and repair vessel to TyCom by end August 2001. The vessel was named TyCom Reliance by Lady Sponsor, Ms Claire Calandra, Executive Vice-President and COO of TyCom at the naming ceremony at Hitachi Zosen Singapore yard yesterday. When commissioned, TyCom Reliance will be the most efficient cable laying and repair ship in TyCom's fleet. KHZ was awarded the first contract to build two cable laying and repair vessels for TyCom in April 2000. Subsequently, TyCom exercised its option to build an additional four sister vessels in November 2000. The second vessel is currently being built in Keppel Shipyard and delivery is expected in the fourth quarter of this year.