KUALA LUMPUR: Wah Seong Corp Bhd
has secured a US$254.09mil (roughly RM1.06bil) midstream contract by East African Crude Oil Pipeline (EACOP) Ltd.
In a submitting with Bursa Malaysia, Wah Seong mentioned its oblique subsidiaries, ISOAF S.r.L and ISOAF TZ Limited have been awarded the contract for the supply of line pipe thermal insulation providers for the East African Crude Oil Pipeline (EACOP) mission and feeder line, situated between the city of Kabaale in Uganda and the port of Tanga in Tanzania.
The work and providers are anticipated to be accomplished inside 30 months from Feb 18, 2022.
“The work and services to be performed under the contract are within the business scope of the coatings division of Wah Seong group and the risks are the normal operational risks associated with the said business,” it mentioned, including that the contract was project-specific and never renewable.
Wah Seong expects the contract to contribute positively to its earnings over the contract interval.
