Federal International unit overcomes Swiber fallout, bags EPCI deal
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
THE Indonesian associate of mainboard-listed procurement specialist Federal International (2000) - PT Gunanusa Utama Fabricators (PTG) - has overcome the odds from the judicial management application of its initial bid consortium partner, Swiber Offshore Construction, to land an engineering, procurement, construction and installation (EPCI ) project valued at US$155 million from Thailand's national oil company (NOC) PTT Exploration and Production (PTTEP).
Federal International's executive chairman KK Koh suggested in an interview with The Business Times that the letter of intent (LOI) for the award of the EPCI project also lent additional justification for the listed procurement specialist to expand its stake in PTG. This project is tied to the Zawtika Phase 1C gas project off Myanmar.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Singaporeans can now buy record amount of yen per Singdollar
