Keppel Corp's infrastructure arm has clinched a $275,000 contract for the initial design phase of a new district cooling system plant in the Jurong Innovation District.
The contract, awarded by JTC Corp to Keppel DHCS, could lead to a contract for the final phase of the project for a 30-year term to build, own and operate the plant if JTC approves of it, Keppel said in a filing yesterday during the market's midday break.
Keppel DHCS is wholly owned by Keppel Infrastructure, which is in turn fully owned by Keppel Corp.
The new plant is scheduled for completion by end-2021, and will provide chilled water supply service to developments in a 28ha area within the Bulim Phase 1 precinct of the district. The plant will have a capacity of up to 14,000 refrigeration tonnes, a cooling capacity measurement.
Maximum capacity of the new plant in refrigeration tonnes.
Keppel, whose businesses span rig-building, engineering and property development, said the initial-phase contract is not expected to have any material impact on per-share earnings and net tangible asset for the current financial year.