PEC Ltd has secured S$103 million worth of new contracts in Asia with existing clients.
Under two of the contracts, PEC will be providing engineering, procurement and construction (EPC) of two storage facilities in Singapore and Malaysia. Both projects are expected to be completed within 20 months.
The third contract is for the provision of mechanical and civil works for an upgrading project in East Malaysia.
Robert Dompeling, PEC’s Group Chief Executive Officer, said: “These contracts add not only to PEC’s growing reputation in the terminal sector but also to the Group’s well established track record in the process industry.
“Investments in refining and petrochemical projects are expected to come onstream in Asia and the Middle East in the next five years. While we are cautiously optimistic of the near-term outlook, we will continue to exercise prudence in our bidding, focusing on key Asia and Middle East markets and on enhancing our capabilities.”
Barring any unforeseen circumstances, the latest contracts are expected to contribute positively to the Group's earnings for the financial year ending 30 June 2019.
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/18042019/pec-wins-three-new-contracts/