SINGAPORE (Mar 26): Chip Eng Seng Corporation announced Thursday that wholly-owned subsidiary Sembcorp Design and Construction has clinched a $433 million contract from PUB to construct the biosolids treatment and biogas handling facilities for the Tuas Water Reclamation Plant.
Slated for completion by 2025, the works include the construction of biosolids building and digesters, the supply and installation of biosolids treatment and biogas handling equipment, and the testing and commissioning of the facilities.
Under the terms of the contract, Sembcorp Design and Construction will also operate and maintain the facilities for one year after completion of the works.
Chip Eng Seng says the contract is expected to contribute positively to its net tangible assets and earnings per share for the current financial year ending December.
Shares in Chip Eng Seng closed 1 cent lower, or down 2.1%, at 47.5 cents on Thursday, before the announcement.
