Federal International (2000) units win contracts worth US$7.3m

OIL and gas procurement specialist Federal International (2000) has won contracts totalling about US$7.3 million through two subsidiaries, Federal Hardware Engineering and PT Federal International, from customers based in Indonesia.

Renewable energy supplier PT ATA Energi has appointed Federal as its procurement agent to supply energy storage systems. The project is expected to be completed by March 30, 2019, with shipment commencing from Jan 30, 2019.

Separately, Federal has secured a 30-day charter with PT Bina Mitra Artha for its land rig to be deployed in Petroselat, Kepuluan Riau, Indonesia.

Federal International (2000) last traded at S$0.255 on Monday.