SINGAPORE - Water and waste management engineering group Sanli Environmental has clinched $51.5 million of contracts from Singapore's Public Utilities Board (PUB), bringing its order book to $185.9 million, the company announced on Tuesday (Jan 22) during the Singapore Exchange's midday trading break.
The orders comprise a $51 million engineering, procurement and construction (EPC) contract relating to the replacement of mechanical and electrical equipment at the Kranji water reclamation plant, and another $0.5 million for maintenance services at the same plant.
Sanli expects the EPC contract to contribute to revenue for two years from financial year ending March 31, 2020, and for the maintenance contract to contribute after the EPC contract is completed.
"We are very excited to have secured a contract of this size from the public sector," Sanli chief executive Sim Hock Heng said in a statement. "We believe our established track record and strong capabilities have given us a competitive edge."
Sanli shares last traded at 21 cents before the announcement.