SINGAPORE (Apr 16): Keppel Infrastructure’s wholly-owned subsidiary, Pipenet, as a lead consortium partner together with Asia Projects Engineering, has secured a $52.5 million contract to design and build two 48in crude oil pipelines and ancillary facilities along parts of Banyan Drive, Banyan Avenue and the Jurong Island Highway that will facilitate pipeline connection to the Jurong Rock Caverns on Jurong Island.
Keppel Infrastructure is in turn a wholly-owned subsidiary of Keppel Corporation.
This contract was awarded to the consortium by JTC Corporation through an open tender. The project is slated for completion in end 2020.
The addition of these pipelines will facilitate the transportation of crude oil between the Jurong Rock Caverns and its users.
Currently, Pipenet owns and operates an extensive pipeline corridor network which is strategically located on the island, with the majority stretch running along the Jurong Island Highway. The existing corridor connects the Merbau region to the Banyan and Tembusu regions on Jurong Island, and runs through the chemical cluster at the Sakra region.
Shares in Keppel Corp last traded at $6.61 on Monday.
