KNM secures a contract worth RM36.14 M from Technip
15 July 2019
KNM Group Bhd has secured an air cooler heat exchangers contract worth €7.754 M, equivalent to about RM36.14 M, from Technip Italy SpA.
In a stock exchange filing, KNM said its indirect wholly-owned unit secured the job from Technip via a purchase order (PO) dated June 28, and that it involves the design, detailed engineering, fabrication and supply of air cooler heat exchangers as part of the expansion and modernization projects of the Middle East Oil Refinery located in Alexandria, Egypt, that is managed by Middle East Refining Ltd (MIDOR).
The job is to be completed in no more than 14 months from the PO's date.
KNM is a subsidiary of TechnipFMC, a global leader in the oil and gas sectors of subsea, onshore, offshore, and surface technologies who has been awarded the engineering, procurement, and construction main contract for the expansion and modernization of MIDOR.
KNM expects the contract to contribute positively to its earnings for the financial years ending Dec 31, 2019 and Dec 31, 2020.