SINGAPORE: OMS Group, a KKR-backed Malaysian subsea digital infrastructure company, said on Monday it has signed a contract with Dutch maritime firm Royal IHC for the construction of a series of cable-laying vessels.
OMS said in a statement that the new vessels will help it meet the surge in telecoms demand and ramp up global connectivity, with the first vessel expected to be delivered in the first quarter of 2027.
The group did not disclose any financial details or the total number of vessels to be constructed.
KKR invested US$400 million in OMS Group in October last year as part of its expansion in the digital infrastructure space in Southeast Asia. OMS is a portfolio company of KKR, according to the U.S.-based investment firm's website.
In June, OMS said it secured US$292.5 million worth of loans from a group of financial institutions including HSBC, E-Sun Commercial Bank and SinoPac, with help from KKR.