PETALING JAYA: KNM Group Bhd’s indirect wholly-owned subsidiary FBM-KNM FZCO has bagged another contract worth US$5.35 million (RM22.36 million) from PSS Netherlands BV Sharjah Branch.
The contract is for the supply of Shell and Tube Heat Exchangers-Lot-1 as per requirements of the purchase order for the clean fuel project at the existing major oil refinery in Sriracha, Chonburi, on the east coast of Thailand as operated by Thai Oil Public Company Limited.
The supply and delivery duration of the transaction is for a period not exceeding 10 months commencing from the date of the PO.
If combined with the earlier contract award received by KNM Process Systems Sdn Bhd this week, another wholly-owned subsidiary company of KNM, the combined contract awards received by KNM amount to a total of RM75.63 million.
FZCO is principally involved in the design and manufacture of air-cooled heat exchangers, specialty shell and tube heat exchangers and process gas waste heat boilers for the oil, gas, petrochemical and desalination industries.
PSS Netherlands BV Sharjah Branch is a consortium comprising of Saipem SpA, Samsung Engineering Co. Ltd. and Petrofac Limited.
The transaction is expected to contribute positively to KNM Group’s earnings for the financial year ending Dec 31, 2019 and 2020.
