CP Industrial wins two contracts worth RM67m

PETALING JAYA: CB Industrial Product Holding Bhd's wholly-owned subsidiary PalmitEco Engineering Sdn Bhd has been awarded two contracts worth a total of RM67.01 million by PT Lifere Agro Kapuas, a subsidiary of United Malacca Bhd.
The contracts are for imports of materials and equipment, and civil, structural, mechanical and electrical works for a new palm oil mill in Kalimantan, Indonesia.
The first contract (import portion) is worth about RM17.2 million while the second contract (local portion) is worth 149.22 billion rupiah (about RM49.8 million).
The contracts are expected to contribute positively to the earnings of the group for the financial years ending Dec 31, 2017 and 2018.