Serba Dinamik secures RM1.05b EPCC contract in Uzbekistan

Serba Dinamik secures RM1.05b EPCC job in Uzbekistan

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KUALA LUMPUR (Aug 13): Integrated engineering services provider Serba Dinamik Holdings Bhd said today that it has secured an engineering, procurement, construction and commissioning (EPCC) contract in Uzbekistan, worth an estimated US$250.3 million (equivalent to RM1.05 billion).

The EPCC job, for a 90-tonne per day chlorine processing plant at Hazarasp Free Economic area at the Khorezm Region, as well as a 26MW/h steam turbine independent power plant, was secured via its wholly-owned Serba Dinamik International Ltd, it said in a statement today.

The job duration is to be completed in two years, starting Aug 8 this year, to be completed by Aug 7, 2021.

In addition, it said its wholly-owned unit Serba Dinamik Sdn Bhd has secured two operations and maintenance contracts from Petronas Carigali Sdn Bhd. 

The first contract — for the duration of June 10 this year until June 9, 2020 — is for the provision of maintenance services for weir gas compressor. The second, effective June 18 this year until June 17, 2022, is for the provision of maintenance of capstone microturbine generator.

Both contracts, however, carry no specific value, as they are on a call-out basis, whereby work orders will be awarded at the discretion of the clients, based on its activity schedules and rates throughout the duration of the contracts.

“The contracts secured are expected to contribute positively to the Serba Dinamik Holdings Group’s earnings for the financial year ending Dec 31 2019,” the group said.

In a separate statement, Serba Dinamik Managing Directo and Chief Executive Officer (CEO) Datuk Dr Mohd Abdul Karim Abdullah said the group’s contract win in Uzbekistan will strengthen its foothold in the region, and that he foresees the the new job to contribute positively to the group, throughout the duration of the contract.

Serba Dinamik shares closed 0.74% or three sen higher at RM4.09 today, giving it a market capitalisation of RM6.01 billion.