(EnergyAsia, February 1 2013, Friday) — Singapore Exchange-listed Rotary Engineering Limited said it has secured a S$300 million contract to build a 800,000-cubic metre oil storage tank on an island south of Singapore. (US$1=S$1.25).
Rotary said it has been appointed by Tankstore Limited as the main engineering, procurement and construction (EPC) contractor for the expansion of its oil terminal on Pulau Busing. The engineering firm has begun work on the two-year project located on a plot of the island owned by state-owned JTC Corp and leased to Tankstore.
Chia Kim Piow, Rotary’s chairman and managing director, said the award has boosted the value of the company’s orders to S$750 million.