Singapore Technologies Engineering (SGX:S63) inaugurated its new shipyard at 55 Gul Road on Sept. 19, according to a company announcement on the same day.
Acquired for SG$95 million in February 2023, the Gul Yard will replace the Tuas Yard, set to close at the end of 2024.
The new facility, twice the size of its predecessor, is designed for larger, complex projects, improving turnaround times and supporting local naval needs. It aims to explore new markets, including offshore renewables and oil and gas support vessels.
The Gul Yard will integrate with Benoi Yard for streamlined project coordination and resource management. Equipped with 5G technology, it features an integrated yard management system for workflow optimization and predictive maintenance.
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