KNM Group Bhd’s unit FBM-KNM FZCO has accepted an additional purchase order from PSS Netherlands B V Sharjah Branch worth USD 5.18M (RM21.52M) for the supply of shell and tube heat exchangers for the Clean Fuels Project in Thailand. To date, KNM via its subsidiaries has received a total sum of RM95.15M in contract awards from PSS Netherlands for the project in Sriracha in the Thai province of Chonburi.
According to a statement by KNM, the supply and delivery of the transaction will not exceed Oct 10, 2020.
The transaction is expected to contribute positively to KNM’s earnings for the financial year ending Dec 31, 2019 and Dec 31, 2020.
PSS Netherlands is a consortium comprising of Saipem S.p.A., Samsung Engineering Co Ltd and Petrofac Ltd. It is the appointed contractor to upgrade the Sriracha refinery as part of Thailand’s Clean Fuel Project.