Oiltek International Limited has secured new contracts worth a total of RM94.8 million from Malaysia, Indonesia and Kenya.
Mr Henry Yong Khai Weng, Executive Director and CEO of Oiltek, said, “These latest contract wins will help to build up our growth momentum, and once again highlight the market’s recognition of the attractiveness of our reliable, innovative, diversified and comprehensive range of process and engineering solutions. We aim to continue the momentum of contract acquisitions from last year in order to grow our project pipeline which will help to further boost our growth and returns to shareholders.”
The new contracts involve the construction, fabrication, and installation of inside-battery-limits (ISBL) equipment and outside-battery-limits (OSBL) infrastructure for a new Crude Palm Oil (CPO) pretreatment plant and a new biodiesel plant; one new downstream premium specialty animal feed product processing plant; the design, fabrication, delivery, testing & commissioning of crystallizer loops for a dry fractionation plant; and the design, fabrication, delivery, testing & commissioning of one new 500MTD Alkaline Close Loop Vacuum System.
The new contracts secured will bring the Group’s current order book to RM400.5 million, a new record high. They are also expected to have a positive impact on the Group’s financial performance for FY2024.
