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PaxOcean, a subsidiary of Kuok Maritime Group, has inaugurated a S$200 million shipyard in Jurong Industrial Estate, Singapore. The new facility spans 17.3 hectares, featuring two dry docks, one floating dock, and enhanced quayside capacity. Supported by JTC and the Singapore Economic Development Board, the shipyard aims to improve Singapore's maritime capabilities and will invest S$3.5 million in R&D over three years, including a new Centre of Excellence for Engineering R&D.