PETALING JAYA: KNM Group Bhd’s wholly-owned subsidiary KNM Process Systems Sdn Bhd (KNMPS) has bagged a US$12.74 million (RM53.27 million) contract from PSS Netherlands BV Sharjah Branch.
The contract is for the supply of big size CS/CLD columns and vessels up to 60MM as per requirements of the purchase order (PO) 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 12 months commencing from the date of the PO.
KNMPS is principally involved in the design, engineering, procurement and manufacturing of process equipment.
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.
At the noon break, its share price gained 2.7% to 38.5 sen on 30.98 million shares done.
