Yongnam bags three contracts worth S$29.3 million

MRT Downtown Line 3 and Jurong Island petrochemical plant to be finished 2014 and 2012, respectively.

These contracts are not expected to have a favourable impact on the Group’s financial performance for the year ending December 31, 2011, Yongnam said in a release.

In describing the projects, Yongnam said: “The 21-km long DTL3 is the final stretch of the 42-km Downtown Line. Contract C933 is for the Jalan Besar station, which will be built under Kallang Bahru. It will serve commuters going to the commercial and industrial buildings in the area. Yongnam will support the main contractor, Penta Ocean Construction Co. Ltd by providing temporary steel waling, strutting and construction decking works.”

“The two sub-contract packages for the petrochemical plant were secured from Hai Leck Engineering Pte. Ltd. and Rotary Engineering Limited. The projects involve the supply, fabrication, surface-treatment and delivery of about 7,660 tonnes of structural steelworks for various process plants and pipe-racks. The works are for a new petrochemical plant being developed along Tembusu Avenue in Jurong Island for CCD Singapore Pte. Ltd,” it added.

Mr Seow Soon Yong, Chief Executive Officer of Yongnam said: “We are very pleased to secure this DTL3 contract, which follows closely after the two DTL3 contracts we secured in October this year for the Kaki Bukit and Kallang Bahru stations. Our continued involvement in the DTL3, one of Singapore’s major public transport infrastructure projects, is a solid endorsement of our expertise and reflects our customers’ confidence in our proven capability to deliver. With the Government’s continued investment in expanding and upgrading the rail network, this will generate a healthy pipeline of potential business opportunities for Yongnam.”

“This Jurong Island petrochemical plant project will add to the Group’s strong structural steelworks track record. Yongnam has secured a wide range of structural steelworks contracts, spanning public and private sector development projects including commercial buildings, airport terminal buildings, sports stadiums, general industrial plants as well as petrochemical plants,” he added.