Kuala Lumpur, 26 August 2013 – Eversendai Corporation Berhad (“Eversendai”), a leading and well-established integrated structural steel turnkey and power plant contractor, today announced that Eversendai Technics RMC FZE, has been awarded its first oil & gas contract worth RM24.7 million by Petronas Carigali Iraq Holding B.V.
The company was awarded the contract for the Supply and Delivery of Fuel Gas Conditioning Unit (FGCU) and associated equipment at the15MW Power Plant for the Garraf Development Facility Operation.Eversendai’s excellent track record in the region together with Technics’ technical expertise in this field has proven to be a winning combination.
Tan Sri A.K. Nathan, Executive Chairman and Group Managing Director of Eversendai Corporation Berhad said, “We are extremely delighted to have securedthis milestone contract from Petronas Carigali Iraq Holding B.V. This is an excellent start for the joint venture as it gives us the opportunity to establish ourselves in the Middle East Oil & Gas sector. We will execute the Fuel Gas Conditioning unit in our Hamriyah Fabrication Yard (Sharjah) as the new Ras Al Khaimah (RAK) waterfront fabrication yard is under development now and will be ready in Q1 2014. The new yard is approximately 200,000 sqm with 550 metres of waterfront and has a water depth of 7 metres at low tide”.
“We are committed to delivering this project successfully and I would like to personally thank the Petronas Iraq team for having faith and confidence in our capabilities. We are also bidding for other projects which include offshore platform structures, topsides and large process modules. We have made good progress by securing our 1st oil & gas project and we expect to win a few more soon. The Middle East Oil & Gas sector is very vibrant and it is of our utmost priority to ensure that we capitalise on this” he added.
Eversendai has a strategic long term business plan to deliver future growth and enhance shareholders value. The setting up of the Oil & Gas division is part of Eversendai’s strategic plan to double its revenue to RM2 billion by 2017 with a firm focused on delivering bottom line profitability. This revolves around expanding and strengthening its presence in existing markets including the Middle East, India and South East Asia whilst venturing into new markets including the Commonwealth of Independent States (“CIS”) countries.