Prima Marine Pcl Invests THB475 Million to Expand Fleet for Petro Exploration/Production Services

Prima Marine Public Company Limited (SET: PRM) announced on Thursday, that the board of directors meeting No.16/2022 on December 22, 2022 have a resolution to approve Truth Maritime Service Co.,Ltd (TMS) a subsidiary of the company to enter into a new shipbuilding investment as 2 crew boats for the service of transport staffe or cargo to support the offshore petroleum exploration and production.

The company intends to make an agreement for a shipbuilding contract within the first quarter of 2023, the shipbuilding shall be finished within 12 months after the contract signing with an investment approximately USD 13.63 million or approximately THB 475.02 million.

Expected benefit for the company is to support and increase the company’s revenue by providing the offshore petroleum exploration and production service which is a growing business in the Southeast Asia region market.