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Swiber secures US$80m pipeline project in Latin America

SWIBER Holdings said on Tuesday it has secured a US$80 million letter of intent to install pipelines and supporting structures for a global energy company in Latin America.

Under the contract, Swiber will install monobuoys, pipeline-end manifolds and a submarine pipeline.

It said the project will boost its order book to about US$1.9 billion.

The Latin American company is a new client, it said adding that installation work is expected to commence in the third quarter of 2015 and be completed in the first quarter of 2016.