Ezion Holdings wins USD79.9m contract

It will provide a jack-up rig to a South Asian company.

In a release, Ezion Holdings Limited announced that it has secured a charter contract with a value of approximately USD 79.9 million over a 3 year period with additional 2 year extendable option to provide a Jack-up Rig to support a South Asian based national oil company. 

The Jack-up Rig which will be deployed in the Arabian Sea in South Asia is expected to be working by the 4th Quarter of 2013 after its refurbishment and upgrading. The above mentioned project will be funded through internal resources as well as bank borrowings. 

The abovementioned charter is not expected to have a material impact on the Group’s earnings per share or net tangible assets per share for the financial year ending 31st December 2013.