Ezra Holdings establishes JV with Chiyoda

摘要

Ezra Holdings Ltd has signed a memorandum of understanding (MOU) to establish a new joint venture (JV) in the subsea market. The MOU is with Chiyoda Corporation in Japan and will see Chiyoda invest in Ezra's subsea services business, EMAS AMC, to form a new 50/50 JV, EMAS Chiyoda Subsea. Chiyoda is a leading front-end engineering design (FEED) and engineering, procurement and construction (EPC) company in the oil and gas industry. In a statement, Ezra Holdings said, "Through this partnership, EMAS Chiyoda Subsea will be able to undertake larger and more complex offshore EPCI projects." Explaining the rationale for the JV, the companies said they would benefit from a combination of capabilities and resources such as project management backed by technologically advanced assets, the provision of a global network of engineering centres, supply chain management capability and global vendor networks, wider global client networks, research and development capabilities in engineering and construction technologies and greater financial strength.