SINGAPORE - Seatrium has obtained a $400 million committed green revolving loan facility from UOB to support environmentally sustainable projects.

The loan is secured via its unit Seatrium Financial Services, the offshore and marine engineering group said on Jan 23.

The facility will support the group’s green projects, furthering its business growth in the offshore renewables space while allowing it to achieve its environmental, social and governance (ESG) targets over time, Seatrium noted.

“Seatrium is pleased to partner with UOB on our inaugural green loan facility that will enable us to unlock new opportunities to scale our business ambitions in maritime and offshore renewables,” said Mr Adrian Teng, the group’s chief financial officer.

The group noted that it secured over $2 billion in sustainability-linked loans and green financing in 2023, while working to reduce its carbon footprint in the construction of environmentally sustainable vessels and subsea developments.

“The group has set a target 40 per cent of its net order book to comprise cleaner or greener solutions and renewable sources of energy by 2030,” it added.

Seatrium shares were trading unchanged at 10.7 cents as at 1.15pm on Jan 23. THE BUSINESS TIMES