Mainboard-listed Rotary Engineering has secured a $14.6 million Engineering, Procurement and Construction (EPC) contract to add new facilities to an existing plant on Jurong Island for chemicals company Stepan Asia Pte Ltd.
Posts Tagged ‘Jurong Island’
Rotary wins $14.6m EPC deal to build new plant and upgrade existing facilities on Jurong Island
January 19th, 2011 |
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PEC bags $78m utilities project works
January 19th, 2011 |
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PEC says it has won a $78 million project works contract from Tuas Power Utilities (TPU).
Under the contract, PEC will provide engineering, procurement and construction (EPC) services for a pipe rack and utilities piping reticulation system in TPU’s Tembusu Multi-Utilities Complex in Jurong Island.
Oil trader Hin Leong to set up Singapore’s 4th refinery
December 22nd, 2010 |
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Singapore’s biggest local oil trader Hin Leong Trading is teaming up with one of China’s top four national oil firms and possibly a European partner to set up a US$6-8 billion ($7.9-$10.5 billion), 300,000-500,000 barrel-per-day refinery in the city-state, the local press reported today.
The planned greenfield project, for which memoranda of understanding have been signed, will be located on Jurong Island and will make Singapore the world’s third largest oil refining and trading hub after Houston and Rotterdam, it was reported.
Sembcorp Industries rated ‘buy’ by Phillip Securities
December 21st, 2010 |
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Phillip Securities Research in a Dec 17 research report says: “We visited Sembcorp Industries’ key utilities facilities on Jurong Island. We believe that there is scope for further expansion, including the construction of another wastewater treatment plant, if more chemical and petrochemical companies build their facilities on Jurong Island.
TTJ secures Singapore LNG Terminal and Lanxess Butyl Rubber Facility projects worth $31.5m
November 26th, 2010 |
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Structural steel firm, TTJ Holdings says it has successfully secured jobs totalling $31.5 million for two major petrochemical and oil and gas development projects located on Jurong Island — namely the $1.5 billion, 30-hectare Singapore LNG Terminal and the planned €400 million ($699 million) butyl rubber facility by Lanxess, the world’s largest manufacturer of synthetic rubber.
Rotary among potential gainers on Exxon plan: CIMB
November 23rd, 2010 |
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CIMB tips Rotary Engineering (R07.SG), rated Outperform with $1.15 target, Hiap Seng Engineering (510.SG), rated Outperform with $0.92 target, recent listing Mun Siong (MF6.SG), not rated, as potential beneficiaries from ExxonMobil Corp’s (XOM) production expansion at Singapore refining complex.
Exxon says it will build diesel hydrotreater, increase its output of ultra-low-sulphur supplies in Singapore; facility may be completed by 2014.
“This adds to ongoing and planned projects on Jurong Island, keeping EPC players busy. Although major construction jobs are usually awarded to EPC gargantuans…smaller engineering and construction contracts will usually be subcontracted to local EPC players.”
Rotary down 2.0% at $0.965, Hiap Seng +0.8% at $0.615, Mun Siong down 2.9% at $0.170.
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Exxon to build diesel unit at Singapore oil refinery: Update
November 23rd, 2010 |
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Exxon Mobil Corp. will build a diesel hydrotreater at its Singapore refining complex and increase its output of ultra-low-sulfur supplies by the equivalent of 2% of China’s demand for the transport fuel.
The world’s largest listed oil and gas company plans to boost supplies by 9 million liters a day to more than 25 million, Exxon said in an e-mailed statement today. The additional daily output is equivalent to 56,600 barrels. China may consume 2.87 million barrels a day of diesel this year, based on forecasts by the International Energy Agency.
The facility may be completed by 2014, Karen Wong, the company’s media relations and communications advisor in Singapore, said by telephone. She declined to specify the cost of the construction.
Exxon is spending more than $1 billion on diesel hydrotreaters at refineries in Baytown in Texas, Baton Rouge in Louisiana and in Belgium’s Antwerp to boost the plants’ capacity by 22 million liters a day. That’s about 140,000 barrels a day.
Diesel, or gasoil, has outpaced gains in crude as the global economic recovery bolsters fuel demand. In Singapore, gasoil’s premium to Dubai crude, the Asian benchmark, climbed to US$14.32 ($18.64) a barrel last week, the highest since January 2009, according to PVM Oil Associates, a brokerage.
Exxon’s Singapore refining complex, the company’s biggest globally, comprises a 296,000 barrel-a-day plant on Jurong Island off the country’s southwestern coast and a 309,000 barrel-a-day refinery on the mainland, according to its website.
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Keppel Merlimau Cogen plant starts 800MW expansion
October 21st, 2010 |
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Keppel Energy, the wholly- owned subsidiary of Keppel Corporation, will commence the 800 MW expansion of its natural gas-fired Keppel Merlimau Cogen plant (KMC), on Jurong Island.
Expected to be completed by 2013, the expansion will boost KMC’s generation capacity to 1,300 MW from its current capacity of 500 MW.
When completed, KMC will be fuelled by both piped natural gas and Liquefied Natural Gas (LNG) to be supplied from the new Jurong Island LNG terminal. The total investment is expected to be around S$900 million. Keppel Energy will be using internally generated cash and external borrowings to fund the expansion.
Rotary Engineering rated ‘buy’ by Phillip Securities
October 6th, 2010 |
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Phillip Securities Research in an Oct 5 research report says: “Rotary Engineering is an established EPC company serving the Petrochemical, Oil & Gas industry through construction and maintenance of onshore infrastructures. Rotary has an established track record of project completions on Jurong Island, the petrochemical hub of Singapore.
PEC started at Buy by Phillip Securities; with $1.50 target
October 5th, 2010 |
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Phillip Securities starts PEC (IX2.SG) at Buy with $1.50 target price, based on 8.75x P/E, 1.75x P/B, says Dow Jones.
Phillip Securities says Singapore-based plant builder has established working ties on Jurong Island with key industry players including Shell Eastern, Exxon Mobil, Singapore Refining Company, allowing it to secure long-term maintenance contracts, which are less volatile than project works.
OKP wins $1.1m contract for Jurong Island reclamation works
August 30th, 2010 |
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OKP Holdings, the infrastructure and civil engineering firm, today announced that it has won a $1.1 million contract for land reclamation works on Jurong Island.
OKP says the contract was awarded to its wholly-owned subsidiary, Or Kim Peow Contractors. Work on the foreshore reclamation project has already begun and is expected to be completed by the end of this year.
Sembcorp +2.2%; Middle-term utilities growth: DMG
August 26th, 2010 |
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Sembcorp Industries (U96.SG) +2.2% at $4.18 as utilities business expansion drives interest, according to Dow Jones.
Company has sealed 20-year contract to supply steam, water treatment services to support Jurong Aromatics Corp’s upcoming aromatics complex in Singapore’s Jurong Island.
Sembcorp invests $800m to build multi-utilities facility in western Jurong Island
August 25th, 2010 |
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Sembcorp Industries, the energy, water and marine group operating in 17 countries, says it signed a 20-year long-term utilities services agreement with Jurong Aromatics Corporation (JAC) for the supply of steam and other water and wastewater treatment services to JAC’s upcoming aromatics complex located in the west of Singapore’s Jurong Island petrochemical cluster.
CSC Holdings says unit served with writ of summons by Penta-Ocean Construction Company
August 18th, 2010 |
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CSC Holdings says wholly-owned subsidiary CS Construction & Geotechnic (CSCG) had been served with a writ of summons filed by Penta-Ocean Construction Company in the High Court of the Republic of Singapore.
CSCG is the sub-contractor of Penta-Ocean in the Singapore Parallel Train Project at Jurong Island where it was carrying out piling works for the Utilities Civil Works and Interconnects & Tankage Main Civil Works.
Soilbuild to divest Penjuru Logistics Hub for $60m
August 18th, 2010 |
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Integrated property developer Soilbuild Group Holdings has signed a put and call option agreement to divest Penjuru Logistics Hub, a purpose-built logistics warehouse located near Jurong Island and Jurong Port, for $60 million.
The group says it expects to recognise a gain of $16.3 million from the divestment, net of estimated expenses in connection with the sale. Soilbuild had previously recognised a fair value gain of $5.2 million upon revaluation of the warehouse property located at 34 Penjuru Lane following its completion.
Hiap Seng Engineering’s target cut to $0.89 by CIMB
July 7th, 2010 |
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CIMB has cut Hiap Seng Engineering (510.SG) target price to $0.89 from $0.94, based on 8.5x FY11 P/E vs 9.0x previously, to reflect current market sentiment, slower pace of order flows from Middle East, says Dow Jones.
Still, keeps Outperform call. Says builder of oil & gas plants, storage terminals good proxy to developments on Jurong Island as it derives most of its revenue from Singapore: “Despite the apparent refining and petrochemical supply glut, we are still witnessing a revival of downstream projects on Jurong Island.”
Expects as many as nine new chemical, lubricant projects on island in coming years with combined estimated value of $9 billion. Adds dividend yield of 6% attractive.
Shares off 0.8% at $0.64.
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June 30: Sembcorp, SIA, China Fishery, Boustead Singapore
June 30th, 2010 |
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Singapore’s benchmark Straits Times Index <.FTSTI> fell 1.38% on Tuesday to 2,830.34 points. Singapore stocks are likely to come under pressure on Wednesday after US shares tumbled overnight due to rising doubts over the stability of Europe’s banks and increasing concerns over the global economic outlook.
Sembcorp Industries says it will provide industrial wastewater treatment services to German specialty chemicals company Lanxess’ butyl rubber facility from a new integrated industrial wastewater treatment plant to be located in Tembusu district of Singapore’s Jurong Island petrochemical cluster. Expected to be completed by the second quarter of 2012 at an investment cost of $40 million, the new facility will more than double Sembcorp’s current industrial wastewater treatment capacity on Jurong Island, and will be sufficient to serve Lanxess as well as further customers.
Sembcorp to develop $40m wastewater treatment facility on Jurong Island
June 29th, 2010 |
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Sembcorp Industries says its utilities business has secured its first wastewater treatment customer in the new Tembusu district of Singapore’s Jurong Island petrochemical cluster.
Sembcorp will provide industrial wastewater treatment services to German specialty chemicals company Lanxess’ butyl rubber facility from a new integrated industrial wastewater treatment plant to be located in Tembusu.
Singapore’s power utilities to buy LNG From BG Group
March 31st, 2010 |
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Singapore’s six power producers agreed to buy 1.5 million tonnes a year of liquefied natural gas from BG Group Plc, S. Iswaran, the country’s senior minister of state for trade, industry and education, said today.
Senoko Power, PowerSeraya, Tuas Power Generation, Sembcorp Cogen, Keppel Merlimau Cogen and Island Power Co. entered into “multibillion-dollar” contracts with BG Singapore Gas Marketing, Iswaran said at a ceremony on Jurong Island to inaugurate construction of the country’s first LNG terminal.