C2O Holdings says Valueright International, a subsidiary of its associate company Hadi International Marine Services, has placed orders for the construction of two offshore support vessels worth US$13 million ($18.2 million) with equipment.

Orders for the vessel, placed with a shipyard in China, are expected to be delivered within 18 months.

Upon delivery, these vessels would be deployed in The Middle-East to support offshore construction and maintenance work.

The funding for these vessels is expected to be from internal resources as well as bank borrowings.