PEC starts the year with $79 million worth of new contracts

Specialist engineering group PEC announced that it has secured $79 million worth of new contracts from repeat multinational corporations.

One contract includes providing engineering, procurement and construction works for a storage facilities terminal in Singapore, slated to be completed in September.

Another contract will see PEC providing field piping erection works for a liquefied natural gas plant in Malaysia, slated for completion by January 2016.

Other contracts include civil, mechanical, structural and piping works for various refinery facilities in Singapore, and are expected to be completed in the next 12 months.

Group chief executive Robert Dompeling said: "That we were able to secure these contracts underscores PEC's strong position in the downstream process engineering industry.

"Our long-standing relationships with leading industry players who value our commitment to excellence continue to stand us in good stead."

He said that long-term plans include building up the business, especially in the maintenance services sector.

Opportunities in target markets across Asia and the Middle East will also be explored for the firm to grow its reach.