Marco Polo Marine, the integrated marine logistic group, says wholly-owned subsidiary, PT Marcopolo Shipyard, has entered into six vessel building contracts with an Indonesia entity to build six units of barges at an aggregate contract value of $8.3 million.

Sean Lee, the CEO of Marco Polo Marine, says, “We are happy that the ship building division of our Batam shipyard continues to grow. With the recent ship conversion project and the continued growth in ship building projects, our shipyard operation is expected to contribute significantly to the Group’s results in the financial year 2011.”

The ship building contracts are expected to contribute positively to the group’s consolidated profit after tax for the financial year ending 30 September 2011.