KNM secures another contract from BV Sharjah Branch
07 October 2019
KNM Group Bhd’s indirect wholly-owned subsidiary FBM-KNM FZCO has secured another contract worth USD5.35 M (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.
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.