Business

KNM wins RM308m contract in Russia

KUALA LUMPUR, Feb 20 – Malaysian oil and gas services provider KNM Group Bhd has won a RM308.6 million contract for the supply of sulphur to an energy complex owned by Russia’s TAIF Group, the company said in a stock exchange filing yesterday.

Under terms of the contract, KNM will supply sulphur recovery units for a heavy residue conversion complex located in Russia’s central region of Tatarstan.

The contract, awarded to KNM’s wholly-owned subsidiary KNM Process Systems Sdn Bhd, is expected to be executed over 28 months and contribute positively to KNM from 2014 onwards.

TAIF Group is a production and investment company with operations in the oil and gas, petrochemistry, telecommunication, construction and financial sectors, KNM said. – Reuters

 

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