OILTEK International’s : HQU 0% wholly-owned subsidiary has obtained RM52.5 million (S$15.1 million) worth of contracts from Colombia and Malaysia, the group said on Wednesday (Dec 6).

The group, which provides integrated process technology and renewable energy solutions, said that the Colombia contract involves the design, fabrication, delivery, testing and commissioning of various plants related to the proposed development of a new integrated edible oil refinery complex.

They include a 400-metric-tonnes-per-day (MTD) physical refinery plant, a new 400MTD dry fractionation plant, one new five-tonnes-per-hour shortening plant, and one new three-tonnes per-hour laundry soap plant.

The contract in Malaysia, meanwhile, involves the retrofitting of an existing palm oil mill effluent washing plant to 500MTD.

The new contracts bring the group’s order book to RM390.6 million, to be fulfilled over the next 18 to 24 months, barring unforeseen circumstances, Oiltek noted.

Including these new contracts, the cumulative value of new contracts won in FY2023 to date amounts to some RM312.5 million. This is 59.4 per cent higher than the RM196.1 million worth of contracts obtained in FY2022.

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The group does not project the contracts to have a material impact on its FY2023 performance, but expects them to contribute positively to its FY2024 performance.

Shares of Catalist-listed Oiltek closed S$0.01 or 4.9 per cent higher at S$0.215 on Wednesday.