The new contract also brings Oiltek’s current order book to RM400.9 million. The order book is expected to be fulfilled over the next 18 to 24 months and is expected to contribute positively to Oiltek’s financial performance in FY2025.
Catalist-listed Oiltek International (SGX:HQU
) has, through its subsidiary Oiltek Sdn. Bhd, secured an additional new contract from Latin America worth some RM45.5 million ($13.8 million).
The contract will see Oiltek designing, fabricating, delivering, testing and commissioning a neutralisation plant with an output of 400 metric tonnes per date (MTD). The contract, which also includes the same of one new acidulation plant and one new downstream niche product refining plant, brings Oiltek’s cumulative new contracts secured to-date in the FY2024 ending Dec 31 to RM197.8 million.
