ST Engineering bags first seaport AGV contract

ST Engineering on Tuesday announced that it has received its first contract for its autonomous material handling solutions for an undisclosed sum, in a filing to the Singapore Exchange.

Its Land Systems arm will supply 80 Automated Guided Vehicles (AGVs) to Singapore's container port operator PSA Corporation, and integrate the AGVs into the operations of PSA's next-generation port in Tuas, said the global technology, defence and engineering group.

The AGV can transport two 20 ft or a 40 ft container (weighing up of 65 tonnes) and is fully automated. It can travel at a top speed of 25km/h and is powered by an eco-efficient electric power system, hence resulting in low levels of emission and noise.

The contract is not expected to have any material impact on the net tangible assets per share and earnings per share of ST Engineering for the current financial year.