KUALA LUMPUR: KNM Group Bhd announced that its associated company has been awarded with two projects related to the Pengerang Integrated Petroleum Complex (PIPC) and Turkmengas Petrochemical Complex (TGPC) in Turkmenistan totalling US$56.67 million (RM204.01 million). In a filing to Bursa Malaysia, KNM said for PIPC project, its unit KNM Process Systems Sdn Bhd received contracts from Toyo Group to supply columns, reactors, drums and tanks amounting to US$33.53 million and Tecnicas Group for the supply of reactors, columns and pressure vessels totalling US$15.17 million. KNM Process Systems also received a US$7.97 million project from Toyo Group for the supply of towers at TGPC project. “The contract period for the projects run between 12 months to 18 months and are expected to contribute positively to KNM Group’s earnings for the financial years ending Dec 31, 2015 and 2016.
“However, the projects are also subject to certain risks mainly in the power and oil and gas industries,” it said. – Bernama