KNM bags RM159m EPCC job for ethanol plant expansion in Thailand
KNM Group Bhd has bagged a RM159 million contract to undertake engineering, procurement, construction and commissioning (EPCC) works for the 300,000-litre per day Impress ethanol plant — expansion (IEL Phase 2) project in Chachaengsao Province, Thailand.
In a filing with Bursa Malaysia today, KNM said its wholly-owned subsidiary KNM Process Systems Sdn Bhd (KNMPS) and its 74%-owned subsidiary KNM Projects (Thailand) Co Ltd (KNMPT) have collectively secured the contract from Thailand’s Impress Ethanol Co Ltd (IEL). IEL is a manufacturer and distributor of alcohol/ethanol or fuel from agricultural products and it is effectively a 72%-owned subsidiary of KNM.
The construction duration of the IEL Phase 2 project is about 18 months.
KNMPS previously built the IEL Phase 1 project, involving 200,000 litres per day of fuel-grade ethanol production plant for IEL.
“Upon completion, the IEL Phase 2 project is expected to yield positive returns, in line with KNM’s long term strategic direction of generating sustainable and recurring income streams from its renewable energy businesses for KNM Group,” said KNM.
KNM shares closed 1.8% lower at 28 sen today, for a market capitalisation of RM597.18 million.