Oiltek International Limited, a leading integrated process technology and renewable energy solutions provider, announced a significant new contract win worth RM45.5 million in Latin America. The contract will involve the design, fabrication, delivery, testing, and commissioning of a niche purification plant, furthering the company’s strategic growth and diversification.
The latest contract marks a milestone for Oiltek, bringing the company’s total contract wins for 2024 to RM197.8 million. This contributes to a robust current order book of about RM400.9 million, scheduled to be fulfilled within the next 18-24 months. As the demand for advanced purification technology grows, Oiltek’s innovative solutions continue to garner attention, particularly in emerging markets like Latin America.
Henry Yong Khai Weng, Executive Director and CEO of Oiltek, commented on the company’s expanding presence: “We view ourselves as an Agri-Tech leader, combining agriculture with innovative technology to deliver high-quality solutions across the oil value chain. Our growing footprint in Latin America reflects a rising global demand for reliable, versatile process technology, and enhances our ability to drive sustainable growth and generate higher returns for our shareholders.”
Oiltek’s expansion into Latin America underscores the company’s commitment to meeting global needs for sustainable and efficient process solutions, cementing its role as a key player in the edible and non-edible oil industries.
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About Oiltek International Limited
Oiltek International Limited, an established integrated process technology and renewable energy solutions provider, specialises in the provision of reliable, innovative, diversified, and comprehensive range of refinery processes and engineering solutions for use across all different sectors of the vegetable oils industry value chain globally. The history of the Group can be traced back to its principal operating subsidiary, Oiltek Sdn. Bhd., which was incorporated in Malaysia on 1 December 1980. With over 42 years of track record, Oiltek has successfully designed, built and commercialised plants in more than 33 countries across 5 continents.
Oiltek operates three key businesses – Edible & Non-Edible Oil Refinery, Renewable Energy, and Product Sales and Trading.
For its Edible & Non-Edible Oil Refinery segment, the Group provides engineering, procurement, designing, construction and commissioning (“EPCC”) services for edible and non-edible oil refining plants, downstream specialty products and processing plants; upgrading and retrofitting of existing facilities; and turnkey outside-battery-limits (“OSBL”) infrastructure engineering.
For the Group’s Renewable Energy segment, Oiltek provides services for renewable energy industries including EPCC of multi-feedstock biodiesel, enzymatic biodiesel, winter fuel, and palm oil mill effluent (“POME”) biogas methane recovery plants; upgrading and retrofitting of existing facilities; and turnkey OSBL infrastructure engineering which includes the environmental solutions and integration into steam and power generation.
Oiltek’s Product Sales and Trading segment generates recurring income for the Group, and its services include engineering component sales, agency and distributorship, and specialty chemical product trading.
