OILTEK International’s wholly owned subsidiary won a new contract consisting of two new plants, taking the group’s current order book to a record high of about RM430.9 million (S$123.9 million).
On Tuesday (Jul 2), the renewable energy solutions provider said its new contract is expected to have a positive impact on its performance for the current financial year.
The company also noted that it expects to fulfil its current order book over the next 18 to 24 months.
Works covered under the new contract include designing, fabricating, delivering, testing and commissioning two dry fractionation plants, which have a capacity of 550 tonnes per day and 350 tonnes per day, respectively.
The plant with 550 tonnes per day capacity will be used to produce refined, bleached and deodorised liquid fraction of palm oil at an iodine value of 56. The other plant will be used to produce palm mid fraction at an iodine value of 45.
Shares of Oiltek International ended flat at S$0.46 on Monday.
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