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Sunpower wins 49m yuan tender from repeat customer Sinopec
SUNPOWER Group has won a manufacturing and services tender worth about 49 million yuan (S$9.49 million) from repeat customer Sinopec, the mainboard-listed environmental solutions firm announced on Monday after market close.
Under the tender, Sunpower will provide flare packages to Sinopec subsidiary Sinopec Nanjing Engineering & Construction Incorporation, for the Gulei Refinery and Chemical Integration Project.
Sunpower expects "a positive impact" on its financial results for the financial years 2019 and 2020, following the delivery of the flare packages in 2020.
Said Sunpower executive chairman Guo Hongxin: "This contract win comes closely on the heels of our latest contracts from Sinopec, which signals a strong vote of confidence in Sunpower's ability to supply superior equipment and solutions for large-scale petrochemical projects. It also reaffirms the stable and strong partnership we have forged with Sinopec."
Sunpower shares closed up 1.5 Singapore cents or 3.3 per cent at S$0.47 on Monday before the announcement.