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.
