Memiontec Pte Ltd, the subsidiary of Memiontec Holdings, has won a tender for a $21.7 million contract by the Public Utilities Board (PUB).
The contract will see the provision of Total Solutions Engineering, Procurement and Construction services for the Odour Control and Air Jumper Facilities for the Deep Tunnel Sewerage System Phase 2 project.
The contract will also see Memiontec maintaining and servicing the installed Mechanical, Electrical, Instrument, Control and Automation (MEICA) equipment during the interim care and maintenance period.
SEE:Singapore based Memiontec to meet clean water demand in Indonesia
The contract is scheduled to begin work in May. It is expected to be completed in 2024, with a substantial portion of the construction work carried out in the FY2022 and FY2023 ending Dec 31.
The contract is not expected to have a material impact on Memiontec’s net tangible assets (NTA) per share and earnings per share (EPS) for the FY2021.
The group’s order book now stands at $92.3 million, from its order book of $70.6 million as at March 31.
In an April 28 statement, Memiontec believes that the water and environmental industries “will continue to enjoy growth in the foreseeable future and it will stay focus on the increasing demand for clean water driven by the population and economic growth and the government’s accelerated efforts to develop sustainable water supply and accessibility”.
Shares in Memiontec closed 2 cents higher or 9.5% up at 23 cents on April 28.
