Singapore's Keppel Wins US$1.1 BLN Waste Management Deal in Qatar
SINGAPORE, Oct 18 Asia Pulse - Keppel Integrated Engineering Limited (KIE), a subsidiary of Singapore-listed Keppel Corporation Limited (SGX:KO2), announced on Tuesday that it has won a record QR3.9 billion (US$1.1 billion) deal with Qatar's Ministry of Municipal Affairs and Agriculture for the construction of a waste-management facility in the country.
Under the agreement, the largest offshore environmental engineering deal ever won by a Singaporean company, KIE's wholly owned subsidiary Keppel Seghers will design and build four waste transfer stations and an Integrated Domestic Solid Waste Management Centre (DSWMC) servicing the whole of Qatar, which it will operate and maintain for a period of 20 years.
Scheduled for completion in 2009, the waste management centre will have an initial capacity of handling more than 1,550 tonnes of waste per day.
In a release to the Stock Exchange of Singapore, Keppel Seghers CEO Mr. Chua Chee Wui said the company viewed the deal as a clear sign of the quality of its work and hoped that the contract would boost the strength of its international reputation.
"We competed against some of the best international companies in this tender. Winning this contract is a ringing endorsement of Keppel's state of the art technologies and project management expertise," he said.
As the facility will be the first of its kind to be built in the Middle East, Wui suggested that the deal places the company in a good position to expand its interests in the area, fulfilling urgent demand for essential infrastructure as the region's governments sought to diversify their economies with support for growth outside the oil and gas sectors.
"Keppel will continue to tap the vast opportunities in the Middle East to secure more projects. We will leverage our established track record in offering both our water and thermal waste treatment solutions to clients in this region," he said.
Keppel's strategic partner in the project, Singapore's Ministry of Environment and Water Resources also commented on the significance of the project, praising Keppel for strengthening the country's ties with the Middle East.
"Singapore hopes to see and will encourage more Singapore environmental companies and water companies to venture and provide its expertise, services and products to the global water markets in the Middle East and beyond," said the head of the Ministry, Dr Yaacob Ibrahim.
