Rowan Cos. Inc., Houston, (NYSE: RDC) plans to construct two jack-up rigs to add to its offshore fleet. The rigs will be a new design called the LeTourneau 240C. Each rig will cost about $165 million and will be constructed at Rowan's Vicksburg, Miss., facility. Expected delivery of the first rig is early summer 2008 and the second in early 2009. Rowan anticipates funding construction with available cash.
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