Oiltek International secures $27.2m in new contracts

These contracts cover projects in Malaysia, Indonesia, and Kenya.

Oiltek International Limited announced the acquisition of new contracts valued at approximately ($27.2m) RM94.8m.

The contracts, obtained by its wholly-owned subsidiary, Oiltek Sdn. Bhd., span across Malaysia, Indonesia, and Kenya.

It involves construction, fabrication, and installation of inside-battery-limits equipment and outside-battery-limits for various plants, including a Crude Palm Oil pretreatment plant, a biodiesel plant, and a specialty animal feed processing facility.

Additionally, Oiltek will provide equipment and infrastructure for other projects, such as crystalliser loops for a dry fractionation plant and a 500MTD Alkaline Close Loop Vacuum System.

With these contracts, Oiltek's current order book surges to approximately RM400.5m.

The group said it is expecting to complete these projects within the next 18 to 24 months.

“These latest contract wins will help to build up our growth momentum, and once again highlight the market’s recognition of the attractiveness of our reliable, innovative, diversified and comprehensive range of process and engineering solutions,” said Henry Yong Khai Weng, executive director and CEO of Oiltek.

“We aim to continue the momentum of contract acquisitions from last year in order to grow our project pipeline which will help to further boost our growth and returns to shareholders,” he added.

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