Malaysia-listed oil and gas services company Wah Seong Corporation (WSC) has secured a MYR188.96 million (USD46 million) sub-contract to supply and deliver coated steel pipe piles to Pengerang deepwater petroleum terminal project in Johor, Malaysia.
Under the sub-contract, which is project specific and not renewable, WSC will manufacture and deliver coated steel pipe piles by the third quarter of 2016.
According to WSC’s filing to Bursa Malaysia, the sub-contract is expected to contribute positively to the company’s earnings over the contractual period.
The main terminal project contract for the deepwater petroleum terminal comprises the procurement and construction of marine facilities and associated dredging works.
The MYR5 billion terminal is a joint venture between Malaysia-based DIALOG Group, Royal Vopak of Netherlands, and Johor State Secretary Incorporated.
Once completed, the terminal will have total storage capacity of 5 million m³ by 2020.