Mooring systems maker Mooreast buys new site to serve offshore renewables

Mooreast's upgraded water-front facility in Singapore. Source: Mooreast Asia Pte. Ltd.

September 10 (Renewables Now) - Mooring solutions specialist Mooreast Asia Pte Ltd has bought an upgraded water-front facility in Singapore that more than doubles the company’s capacity just as it shifts towards the floating offshore wind sector.

Mooreast is engaged in the design and fabrication of mooring products, including specialised anchors and chain stoppers. It also offers related engineering, installation and commissioning services.

The firm is experienced in the offshore oil and gas and marine sectors and now wants to transition to mooring and rigging systems for the offshore renewable energy sector, whether wind, solar or tidal energy.

The new facility has a usable floor space of 323,000 sq ft (30,000 sq m), compared to 129,000 sq ft (12,000 sq m) at Mooreast’s prior site. The firm will use it for components fabrication, warehousing and office functions.

Mooreast said it recently bought the yard in southwest Singapore for SGD 18.5 million (USD 13.8m/EUR 11.7m) with plans to increase utilisation from 2,000 tonnes to 5,000 tonnes of steel throughput per year by 2023.

(SGD 1.0 = USD 0.747/EUR 0.631)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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