The new facility, which is expected to open in 2017, will serve as an additional hub for research and development activities for the company. The capital investment is expected to be about $15 million.
Lim Kok Kiang, assistant managing director of Singapore Economic Development Board, said: “Despite the challenging macroeconomic environment, we are delighted to have Dril-Quip establish its new R&D center here, which will be the company’s first R&D center outside the Americas.
“Dril-Quip’s investment attests to Singapore’s capabilities in R&D. Our engineering capabilities as well as strong manufacturing core make us an attractive location in Asia for leading oil and gas equipment companies.”
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