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Marco Polo Marine's Units Signs Offshore Wind Framework Deal; Shares Surge 7%

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Marco Polo Marine's (SGX:5LY) subsidiary, PKR Offshore, signed a framework agreement with Siemens Gamesa Renewable Energy, to deploy two commissioning service operation vessels, according to a Thursday filing with the Singapore Exchange.

Shares of the offshore infrastructure company surged nearly 7% in Friday trading.

The two CSOVs will support Siemens' offshore wind projects in Taiwan, with collaboration expected to be extend for South Korea and Japan as well.

The framework period runs from 2029 on an initial two-year term, with options to commence from 2028 and multi-year extensions of one to three years.

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