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PEC clinches S$176m contract in UAE
Engineering specialist PEC has been awarded a new contract worth S$176 million from a new client in Abu Dhabi. The group will provide engineering, procurement and construction (EPC) works for a new oil storage terminal in Fujairah, the United Arab Emirates (UAE).
Located near the Port of Fujairah, the terminal comprises product storage facilities, product pumping facilities and utilities. The project is expected to be completed by March 2017. The client is a prominent terminal and investment company in the UAE.
This is PEC's second major win from the Middle East this year.
The above contract is not expected to have material impact to PEC Group earnings for the financial year ending June 30 2015.