Keppel Offshore & Marine (KOM) will buy and upgrade the Estaleiro TWB shipyard in Navegantes, Santa Catarina, Brazil, for $50m.
The shipyard, to be named Keppel Singmarine Brasil, will be operated by KOM's shipbuilding arm, Keppel Singmarine, and will build offshore support vessels.
The upgrade plan for the 7.6ha yard involves renovating and building slipways and installing a wharf.
The shipyard will be equipped to undertake the fabrication of offshore modules to support major projects at Keppel’s BrasFELS yard in Angra dos Reis.
Keppel Singmarine Brasil is expected to be operational by the second half of 2010 and will build an average of eight vessels a year.
The acquisition is subject to the fulfilment of conditions by TWB Group.