Singapore oil rig builder Sembcorp Marine (SCMN.SI) said on Monday it has exercised its option to increase its stake in Sembmarine Kakinada, India to 40% from 19.9%.
Sembmarine Kakinada is a joint venture between Sembcorp Marine’s subsisidary Sembawang Shipyard and Kakinada Seaports and the initial investment was US$50 million ($60 million).
Sembmarine Kakinada is a joint venture between Sembcorp Marine’s subsisidary Sembawang Shipyard and Kakinada Seaports and the initial investment was US$50 million ($60 million).
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