KEPPEL Shipyard will move out of Keppel Harbour and operate solely from its Tuas yard from April 1 to cut rising operating costs.
'Shipyards are now constantly battling with rising costs in order to stay competitive,' Loh Wing-siew, managing director of Keppel Corp, said.
'Consolidating our operations at one yard will help us to increase cost efficiency, particularly in the allocation of resources and manpower. This way, we will be able to keep ourselves lean and trim.' Operating from one location would enable tighter co-ordination of facilities and provide better work flow, resulting in better controls on quality and safety, he said.
The 52-hectare Keppel Tuas Yard, with its two dry-docks of 150,000 deadweight tonne (dwt) and 330,000 dwt capacity, was planning redevelopment, he said.
Most of the project will comprise a residential development, plus office space, retail units and a marina.
Work would begin after approvals were obtained, the company said.
The project would be carried out in phases, the timing of which would depend on market conditions, it said.