December 27, 2021

Coastal Contracts Wins RM4.5 Billion Contract In Mexico

 Perghh get to the Aztec countries, can eat tacos these days.

Coastal Contracts Bhd through its joint venture company Coastoil Dynamic SA de CV (CD) has secured a RM4.5 billion contract with Pemex Exploracion and Produccion, a petroleum subsidiary of Petroleos Mexicanos to develop a gas -conditioning plant in Mexico.

The Exchange filing states the Coastal Contracts project, EMC Board Plant, has a capacity of 300 million standard cubic feet per day at the Ixachi field, Teirra Balanca, Veracruz, Mexico.

He added that the contract period is 3,902 days, including a construction period of 250 days and operation as well as a maintenance period of 10 years. In addition, its scope of work covers the engineering, construction, operation and maintenance of gas conditioning plants and related infrastructure.

Meanwhile, group executive chairman Ng Chin Heng said the group was optimistic about efforts to secure more projects related to the Pemex production value chain.

As at noon, Coastal Contracts shares were up 9.92% or RM1.33 with a market value of RM706.66 million.