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Jaccar partners Watts Gallop Group to develop EPC business

Jaccar partners Watts Gallop Group to develop EPC business
Maritime-focused investment firm Jaccar Holdings and China’s Watts Gallop Group have inked a partnership agreement in the field of engineering and contracting in the offshore oil and gas sectors.

Jaccar Holdings, majority shareholder of OSV firm Bourbon and stakeholder of Sinopacific Shipbuilding, will offer the partnership its experience in innovation and large scale projects on shipbuilding, owning and operating.

Shanghai-based Watts Gallop Group will contribute its platform manufacturer Jiangsu Watts Offshore & Engineering Co, where additional investments will be carried out to offer ultra-heavy units manufacturing and installation.

The cooperation of the two groups will be executed mainly through an EPC company based in Hong Kong and having subsidiaries in China, named JHW Engineering & Contracting Limited, into which Hartmann Rederei of Germany will also be involved.

Wang Shizhong, chairman of Watts Gallop Group, said: “One of the most important objectives of ‘Made in China 2025’ is to promote the development of offshore engineering equipment including breakthroughs and high-tech vessels and other key fields.”

Jacques de Chateauvieux, chairman and ceo of Jaccar Holdings, commented: “JHW Engineering & Contracting and WOE were the missing components for carrying out a new phase of Jaccar Holdings development while leveraging on its already existing partnerships in shipbuilding, design and engineering, as well as its collaboration with large financial institutions in China.”