Specialist engineering service provider Acromec has clinched three engineering, procurement and construction (EPC) contracts totalling some $17.02 million on April 8.
The first project has a contract value of $11 million and it involves ducting and piping works for the air conditioning and mechanical ventilation system at Singapore Institute of Technology’s new campus at Punggol North.
The project is scheduled to commence in the 3QFY2021 ending Sept 30. It is expected to be completed in the 2QFY2023 ending Sept 30.
The second project, which has a combined contract value of $3.95 million, involves the supply, installation, testing, and commissioning of clean rooms systems, as well as heating, ventilation, and air conditioning (HVAC) systems for a customer in the healthcare sector.
It is slated to begin in the 3QFY2021 and completed by the end of the FY2021.
The third and final project is also for a customer in the healthcare sector, with a contract value of $2.07 million. It involves the design and build of a new medical centre with an operating theatre at the Luma Women’s Imaging Medical Centre in Paragon.
The project is scheduled to begin in 3QFY2021 and also expected to be completed by the end of the FY2021.
“We are pleased to have secured these contracts during these challenging times, which is a testament to our customers continued recognition and confidence in our capabilities to deliver quality work. We will continue to work hard and deliver on these projects, and leverage on our established track record and proven expertise to actively pursue more contracts to further grow our business,” says Lim Say Chin, executive chairman and managing director of Acromec.
The contracts are expected to contribute positively to the earnings per share (EPS) and net tangible assets (NTA) per share of the group for FY2021.
Shares in Acromec closed 1.5 cents higher or 18.3% up at 9.7 cents on April 8.
