Advanced bags S$16.8mn deals in 4 countries

The group to supply equipments to new oil & gas and petrochemical projects in Singapore, China, Thailand, and Saudi Arabia.

Advanced Holdings Ltd. (“Advanced”), a global supplier of proprietary process equipment and technologies, clean energy solutions and environmental technologies, announced Tuesday that it has secured S$16.8 million worth of new oil & gas and petrochemical projects. The Group expects to complete these projects, which are located in China, Thailand, Saudi Arabia as well as Singapore, by 2012.

In China, the Group will be supplying process equipment and analyser systems to three refineries totaling some S$9.4 million. These end-customers include major petrochemical and chemical players in the country such as Shanghai Coking and Chemical Corporation, Hengli Petrochemical (Dalian) Co., Ltd and Sinopec.

Also as part of the S$16.8 million package, the Group will be providing equipment such as test separators, process vessels as well as analyser systems with a combined value of S$7.4 million to world-class engineering companies such as Larsen & Toubro Limited, Worley Parsons Ltd and JGC Corporation for use in Thailand, Saudi Arabia and Singapore respectively, according to an Advanced Holdings report. 

Said Dr Kar Wong, Managing Director of the Group, “These are sizable contracts from world-renowned refineries and engineering companies, and provide a welcome boost to our order book this year. Despite heightened economic downside risks arising from the debt situation in the US and Europe, I am optimistic that our reputation and experience puts us in a strong position to capture opportunities in the petrochemicals and energy industries.”