U.A.E.’s NPCC Plans $400 Million Marine Fleet Expansion - Bloomberg.com

National Petroleum Construction Co., an Abu Dhabi government-controlled oil-services company, plans to invest $400 million in expanding its marine fleet.

Earlier this month it placed an order with Shanghai Zhenhua Heavy Industry Co. for a heavy-lift pipelay vessel, scheduled for delivery by the third quarter 2012, it said in a statement received by e-mail today.