11-09-2018
PEC secures contracts worth $250m with existing clients
PEC Ltd. (PEC, and together with its subsidiaries and associated companies, the Group) has secured S$250 million worth of new contracts with existing clients in its key Asia and Middle East markets.
These include a contract in the Middle East, where the Group will provide engineering, procurement and construction (EPC) works for a crude oil tank terminal with a storage capacity of approximately 600,000m3. When this project is completed in 2020, PEC would have built more than 2 million m3 of storage capacity in the Middle East, strengthening its established track record in storage terminal facilities there.
The other awards include an EPC contract for propylene tankage facilities in Singapore as well as an EPC gas pipelines project and mechanical works.
Mr Robert Dompeling, PEC’s Group Chief Executive Officer, said: “These contract wins testify to our clients’ confidence in our capabilities to deliver well on time and meet exacting standards, affirming PEC as a trusted brand in the process industry.
“The pickup in downstream investments in Asia and the Middle East – from the upgrading of existing infrastructure to the construction of new facilities – present opportunities for PEC, supported by our strong reputation and proven integrated project and maintenance capabilities. We are well placed to tap on these prospects but will continue to exercise prudence in bidding for new contracts.”
PEC’s new projects are expected to have a positive contribution to the Group’s earnings for the current financial year ending 30 June 2019.
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
Sasol provides state of the art catalysts to INERATEC for the production of sustainable e-fuels
The catalysts will be used, among others, in the first large-scale industrial Power-to-Liquid (PtL) plant that INERATEC is currently building in Frankfurt, Germany, which ...
24-04-2024
-
Baker Hughes to supply 17 centrifugal compressors to Saudi Master Gas System project
Baker Hughes, an energy technology company, announced Tuesday that it has received an order by Worley, for and on behalf of Aramco, to supply gas technology equipment ...
23-04-2024
-
SABIC Fujian Petrochemicals select Phenol yechnology from KBR
KBR announced today it has been awarded a contract by SABIC Fujian Petrochemicals to license KBR's market-leading phenol technology in China. Under the terms of the ...
22-04-2024
-
Lummus Expands R&D capabilities to enhance innovation and water and wastewater technologies
Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced the opening of its cutting-edge research and development (R&D) ...
17-04-2024
-
Clariant launches new CATOFIN® 312 propane dehydrogenation catalyst
Clariant, a sustainability-focused specialty chemical company, today announced the launch of CATOFIN 312, its latest propane dehydrogenation catalyst. The new catalyst ...
16-04-2024
-
Yokogawa and GridBeyond conclude investment and strategic partnership agreements
Yokogawa Electric Corporation and energy IT solutions provider GridBeyond of Ireland announce that they have concluded a strategic partnership agreement. Furthermore, ...
16-04-2024
-
Heraeus Precious Metals launches Circlear
Heraeus Precious Metals, a globally leading company in the precious metals industry and one of the largest recyclers of precious metals, has introduced its new offering ...
16-04-2024
-
EMA and JERA to cooperate on LNG procurement and supply chains
The Energy Market Authority and JERA Co Inc, have signed a Memorandum of Understanding to cooperate on mutually beneficial areas in liquefied natural gas procurement ...
16-04-2024
-
Hexagon and Dragos unveil technical partnership to strengthen industrial cybersecurity
Hexagon’s Asset Lifecycle Intelligence division today announced a strategic partnership with Dragos, a global leader in cybersecurity for operational technology (OT). ...
16-04-2024