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Thursday, June 25, 2015

KNM orderbook rises to RM4b, seeking RM13b contracts

KUALA LUMPUR: Process equipment maker KNM Group Bhd has an orderbook of RM4bil including about RM2bil worth of jobs from its UK project. 

It is bidding for over RM13bil worth of jobs of which RM4bil to RM5bil are from Pengerang's downstream development.

Its group CEO Lee Swee Eng said on Wednesday recurring income should be 35% to the group's total from 2017 onwards. 

"We expect the Peterborough renewable energy project to contribute 25% to our earnings from the third quarter of 2017," he told reporters after its AGM.

First phase of the project will produce 17.6 MW of energy and the total capacity is 80MW.

"Engineering works for the waste-to-energy project will start in July while construction works should start in the fourth quarter," he added. The project will keep it busy for the next five to seven years. 

Meanwhile, another renewable energy project in Thailand will contribute to its earnings in FY16. It will produce 2,000 litres of ethanol per day for the first phase.

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