Rotary wins $65 million worth of contracts

SINGAPORE - Mainboard-listed Rotary Engineering secured contracts worth about $65 million between Nov last year and early February.

The firm said in Singapore Exchange filing yesterday that the diverse nature of the contracts demonstrated Rotary's capability to execute projects beyond tank storage construction.

One of the deals is for a $19 million jetty in Jurong Island.

Rotary also secured two contracts worth $33 million involving piping, mechanical, civil, and electrical and instrumentation work on Jurong Island.

It also secured various contracts worth about $10 million for among others, maintenance, and scaffolding and insulations works.

The company noted a steady demand for upgrading and maintenance works for brownfield plants, although investment in oil and gas exploration and production has taken a hit along with low oil prices.