PEC secures S$45m contract with JGC Corporation

The Group’s total order book has now exceeded the S$300 million mark.

PEC Ltd. announced that it has signed a contract with JGC Corporation to provide steel structure erection, piping and electrical & instrumentation works for a refinery in Singapore for an oil major.

This contract together with other contracts secured recently of about S$45m in total value takes the Group’s total order book past the S$300 million mark (excludes on-going maintenance contracts).

Mr Robert Dompeling, Group Chief Executive Officer, said: “We are delighted to continue our good working relationship with our clients. These fresh wins are a strong testament to the Group’s capabilities and reputation in delivering high quality and timely project works.

This, as well as our recently announced five-year maintenance contract, reflect the underlying continued investment stance of oil majors and give us reason to remain optimistic about the longer term demand for fuel, chemicals and energy facilities in Asia.”

The contracts are expected to have a positive impact on the Group’s financial performance for the current financial year ending 30 June 2012.