DNeX awarded Petro Teguh’s PCS contract

Dagang NeXchange Bhd’s (DNeX), wholly owned subsidiary OGPC Sdn Bhd, has been awarded a contract to supply portable container systems (PCS) for petroleum products by Petro Teguh (M) Sdn Bhd.

The contract involves designing, engineering, procurement, construction, installation and commissioning of up to 100 units of PCS for two years. In addition, the contract also covers maintenance and supply of parts for 10 years.

The company in statement said in total, the contract price ranges from RM50 million to RM75 million.

The contract price of a PCS station with single storage is RM500,000, while for a double storage is RM750,000. Each PCS station will have a storage capacity that will be based on the requirement of the location and the captive market it is designed to serve.

The PCS, a self-contained modular fuel storage and dispensing unit, is targeted to be used for the supply of petrol at a fish landing jetty in Malaysia.

DNeX Group MD Zainal Abidin Jalil said this augurs well with the firm’s strategy to expand on its energy division and further strengthen this business segment.

He said the project can also help DNeX raise its earnings, improve resiliency across markets and position the company.

“After a successful strategic transformation into two core businesses, namely IT and e-Services as well as energy, DNeX has been making significant progress in both of its business divisions with this project adding on to its portfolio,” he said in a statement. — TMR