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KNM unit and bidding partner land LOA worth US$1.33b from Petronas

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KNM unit and bidding partner land LOA worth US$1.33b from Petronas Empty KNM unit and bidding partner land LOA worth US$1.33b from Petronas

Post by Cals Fri 08 Aug 2014, 03:06

KNM unit and bidding partner land LOA worth US$1.33b from Petronas
Business & Markets 2014
Written by Surin Murugiah of theedgemalaysia.com   
Thursday, 07 August 2014 08:59

KUALA LUMPUR (Aug 7): KNM Group Bhd’s unit KNM Process System Sdn Bhd (KNMPS) and its bidding partner SINOPEC Engineering (Group) Co., Ltd. (SEG) have received a Letter of Award (LOA) worth US$1.33 billion from PRPC Refinery And Cracker Sdn. Bhd., a subsidiary of Petroliam Nasional Berhad (Petronas).
In a filing to Bursa Malaysia Thursda, KNM said the LOA was in respect to an engineering, procurement, construction and commissioning contract of one package of an oil refining and petrochemical integrated engineering project.
It said the relevant parties are in the process of finalizing and executing the contract.
The company said KNMPS had been cooperating with SEG on the bidding process and it had been agreed that KNMPS is a selected subcontractor to SEG for the execution of the contract.
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