KS Energy says its subsidiary, KS Distribution (KSD) has secured two project contracts with an established shipyard from China to supply major capital equipment, plus ancillary services, worth approximately $15 million in total for the construction of two jack-up rigs.
KS Distribution, is a 55% subsidiary of the KS Energy.KS
Under the terms of the contracts, KSD will provide integrated procurement and project management services to the shipyard from China which is constructing two jack-up rigs.
Delivery under the contracts is expected to be early 1st quarter of FY2013 and in the 2nd quarter of FY2013 respectively.
