SINGAPORE - Mainboard-listed Rotary Engineering announced on Wednesday (April 26) that it has secured a S$140 million contract to build an on Jurong Island.
The project is a joint venture between Jurong Port Singapore Holding Pte Ltd (Jurong Port) and Oiltanking Investment Holdings Pte Ltd (Oiltanking).
Jurong Port is a multi-purpose port that handles general, bulk and containerised cargo, and the new tank terminal will add to its operational capabilities.
Oiltanking is a subsidiary of Oiltanking GmbH and a world-wide independent tank storage operator. Oiltanking has also previously engaged Rotary on some of its projects in Singapore.
Said Rotary chairman and managing director Roger Chia: "The demand for liquid bulk storage remains resilient, and Rotary as an established brand-name in this field is well-positioned to capitalise on opportunities that arise. We are glad to be selected for this project, which will enhance the attractiveness of Singapore's Jurong Island petrochemical hub."
The Jurong Port Tank Terminals project win follows closely on the heels of two other overseas contracts worth over US$120 million announced by Rotary on April 11. The company has chalked up approximately S$310 million in contracts to date this year.
For this latest contract, Rotary's scope of work includes constructing a tank farm with 19 tanks for clean petroleum products storage, pump stations, valve manifolds, firefighting system, slop and waste water system, utilities, buildings, jetty topsides, and interconnecting pipeline from Jurong Port Tank Terminal to Oiltanking's tank terminal.
Situated on 16 hectares of land, the new tank terminal is located directly opposite Singapore's Jurong Island petrochemical hub, and will be connected to it via pipelines.
Designed to store and handle both clean petroleum products and chemicals, the new liquid bulk terminal will have an initial capacity of 232,000 cubic metres, and the potential to add another 230,000 cubic metres.
With its physical connection to Jurong Island, the terminal is well-positioned to cater to the demand for liquid bulk storage from the prospective customers, said Rotary.