Wah Seong Secures US$198 Million Pipe Coating Services Contract

Wah Seong Corp Bhd's (WSC) pipe coating business unit has been awarded a US$198 million contract by Norwegian-based Statoil.

The contract is for the total scope of coating work for the Polarled development project, including anti corrosion coating, internal flow coating and concrete weight coating.

The award also includes the coating works for the Kristin project, the company said in filing to Bursa Malaysia today.

"The contract involves coating of approximately 520 km of pipes which is expected to commence in the third quarter of the year and be completed in 2015," it added.

The contract is expected to contribute positively to WSC Group earnings over the contract period.

-- BERNAMA