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Zurich-based ABB sets up marine academy in Singapore
By Jeana Wong, Channel NewsAsia | Posted: 05 July 2007 2228 hrs


Oil rigs at a Singapore shipyard

SINGAPORE: Major power and automation technology group ABB has set up its first marine academy in Asia, in Singapore.

The Zurich-based company says it is riding on the growth opportunities in the global oil and gas, marine and transport engineering sectors.

ABB's new marine academy in Singapore is its second global training centre and first in Asia.

It aims to increase revenues from its marine business in Singapore by more than fivefold in 2007 to S$80 million a year.

And part of the growth will come from training services on a global level for crew in industries such as marine and oil and gas.

Says Fred Kindle, Group CEO, ABB, "Our training centre here is specifically targeting people who work on submersible drilling rigs, jack-up rigs and use our equipment.

"So that's the specific advantage that we have here being in Singapore. We currently have 50 people here doing the training.

"We've got to bring this up to 85 people within one year. And we're going to train something like 1700 people in the course of the next four years so it'll become a sizable operation."

The company says the global marine sector is growing at least 20 per cent annually, which bodes well for related services like training.

"The growth prospects are very good actually because the whole marine business is growing in leaps and bounds. It's clearly in the double digits. And training services go hand in hand with that. So we're very confident about a promising future here," says Kindle.

ABB says it aims to grow its investments and activities in Singapore but did not reveal specifics.

The Economic Development Board or EDB says it aims to focus on capital-, knowledge- and innovation-driven businesses to grow the marine sector going forward.

It says besides training services, Singapore's strengths include building ships and complex marine or oil and gas electronics systems, as well as research and development work.

Singapore's marine and offshore industry grew a 40 per cent on year to achieve an output of nearly S$10 billion in 2006.

Oil and gas equipment companies are also expanding their operations, contributing to a hefty 36 per cent growth last year. - CNA/yy

genzo2106

well seems like ABB is setting up quite a stronghold in the global marine sector

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lonerlost

Good news for those in the marine industry (or currently studying marine-related courses)!