KNM wins US$4.87m contract to supply pressure vessels

Posted on 07 March 2019

Source: The Edge

KNM Group Bhd has secured a US$4.87 million (RM19.9 million) contract for the supply of carbon steel pressure vessels for the Bapco Modernization Program in Bahrain.

In a bourse filing today, the group said its indirectly-owned unit FBM-KNM FZCO had accepted the letter of award from TTSJV WLL.

FBM-KNM FZCO, incorporated in the United Arab Emirates, is principally involved in the design and manufacture of air-cooled heat exchangers, specialty shell and tube heat exchangers and process gas waste heat boilers for the oil, gas, petrochemical and desalination industries.

TTSJV WLL is a jointly-owned company incorporated in Bahrain by Technip group of companies and Samsung Engineering Co Ltd.

KNM said the supply and delivery duration of the product is for 12 months commencing from the date of the letter of award.

KNM closed 0.5 sen or 4.76% lower to 10 sen, for a market value of RM234.61 million. 

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