Keppel wins initial design contract for cooling system plant in Jurong Innovation District

KEPPEL Corp's infrastructure arm has clinched a S$275,000 contract for the initial design phase for a new district cooling system plant in the Jurong Innovation District.

The contract, awarded by JTC Corp to Keppel DHCS, could lead to a contract for the final phase of the project for a 30-year term to build, own and operate the plant if JTC approves of it, Keppel said in a filing on Thursday during the market's midday break. Keppel DHCS is wholly owned by Keppel Infrastructure, which is in turn wholly owned by Keppel Corp.

The new plant is scheduled for completion by end-2021, and will provide chilled water supply service to developments in a 28-hectare area within the Bulim Phase 1 precinct of the district. The plant will have a capacity of up to 14,000 refrigeration tonnes.

Keppel, a conglomerate with businesses in rigbuilding, engineering and property development, said that the contract for the initial phase is not expected to have any material impact on earnings per share and net tangible asset per share for the current financial year.

Keppel shares changed hands at S$6.41 on Thursday before the noon break, down 0.47 per cent or three Singapore cents.