PLANT and terminal engineering specialist PEC Limited has secured a seven-year contract for the largest refinery and petrochemical plant in Vietnam.
The group said in a press release that it will be providing long-term daily maintenance services for the entire complex owned by Nghi Son Refinery and Petrochemical Limited Liability Company (NSRP).
The firm did not disclose the value of the contract and when it will start, but The Business Times understands that it runs into millions of dollars. A local media agency reported that the complex will start commercial operations in July this year, and reach full capacity by 2020.
NSRP is a US$9 billion joint venture between Idemitsu Kosan Co Ltd, Kuwait Petroleum Europe BV, Vietnam Oil and Gas Group (Petrovietnam) and Mitsui Chemicals Inc.
The contract affirms PEC's reputation as a trusted and reliable partner, able to deliver on large-scale maintenance works, said PEC Group CEO Robert Dompeling. "This award also fortifies our brand equity in Asia and underscores our strategy to grow our overseas maintenance business which will add to our current income stream."
The group will continue to work towards adding new clients, penetrating new markets and expanding its presence in the region, he added.
PEC said the contract is not expected to have a material impact on the group's earnings or balance sheet for the current financial year ending June 30, 2017.