Summit Power awards US$150m contract to PSA subsidiary

Singapore

A SUBSIDIARY of Summit Power International, which plans to list on the Singapore Exchange early this year, has awarded a 15-year contract for support vessels at its liquefied natural gas (LNG) terminal in Bangladesh. The value of the contract given by the subsidiary, Summit LNG Terminal, was not disclosed, but The Business Times understands from a source that it was worth about US$150 million.

Under the contract, PSA Marine Bangladesh Pte Ltd, part of PSA International Pte Ltd, will provide berthing, mooring, pilot and personnel transfer services to LNG ships calling at Summit's terminal.