Keppel unit delivers Polish plant to client

Keppel unit delivers Polish plant to client

A unit of Keppel Infrastructure Holdings has handed a waste-to- energy plant in Poland to its client, Keppel Corporation said yesterday.

The Bialystok plant, which can process about 120,000 tonnes of waste a year, was delivered by Keppel Seghers "on time and on budget" on Dec 31, said KepCorp.

Keppel Seghers was part of a consortium comprising Polish building giant Budimex and Spanish waste-management firm Cespa Compania Espanola de Servicios Publicos Auxiliares that won the 333 million Polish zloty (S$119.4 million) engineering, procurement and construction contract awarded by Bialystok officials in 2012.

Keppel Seghers carried out 49.6 per cent of the project in terms of value and supplied its proprietary waste-to-energy technology.

"We are happy to have leveraged on Keppel Seghers' proven, technologically advanced and sustainable waste-management solutions to support Poland in achieving its environmental goals," said Keppel Infrastructure chief executive Ong Tiong Guan.

The handover of the Bialystok project - also among the first waste-to-energy plants to achieve commercial operation in Poland - is not expected to have a material impact on KepCorp's net tangible assets and earnings per share this financial year.

Meanwhile, shipbuilder Vard Holdings delivered the first vessel from its new Vard Promar yard in Brazil last week.

The group said yesterday that the vessel, a fully pressurised liquefied petroleum gas (LPG) carrier, is the second in a series to be delivered to Petrobras Transporte and the first to be built entirely at Vard Promar.

Vard, which had 29 vessels on its order book as at Dec 31, has been hit by the collapse in oil prices, with Petrobras Transportes last month terminating the contracts for two other LPG carriers on order from Vard Promar.

Mainboard-listed Cosco Corporation (Singapore), the shipbuilding arm of China's China Ocean Shipping Group, also announced yesterday that a unit of a subsidiary recently delivered a tanker vessel to a European customer.

Over at offshore marine firm Otto Marine, its wholly owned subsidiary, Otto Marine Shipyard, has inked an agreement with a "world-renowned" port operator to explore the potential development of a fabrication and marine facility.

The proposed development, located in close proximity to Singapore, will allow the group to tap the Indonesian oil and gas industry, it told the Singapore Exchange in a filing yesterday.

The identity of the port operator and location of the proposed project, which is expected to be fully operational by July next year, were not disclosed.


This article was first published on Jan 12, 2016.
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