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Rotary says expects to win up to $300 mln Exxon orders
Thu, Sep 20, 2007
Reuters

SINGAPORE, Sept 20 (Reuters) - Singapore oil and gas infrastructure services firm Rotary Engineering said on Thursday it expects to win contracts of up to S$300 million ($199 million) from oil major Exxon Mobil in Singapore.

Chairman Chia Kim Piow, who founded the company in 1972, said Rotary has tendered for several contracts totalling S$200 million to S$300 million for Exxon Mobil's "Singapore Parallel Train" (SPT) project at city-state's petrochemical hub of Jurong Island.

"We have a very good chance of winning most of the SPT projects we have tendered for," Chia told Reuters in an interview about the multi-billion dollar SPT project, which includes Exxon-Mobil's second world-scale steam cracker, which will be built at the city-state's petrochemical hub of Jurong Island.

Chia said the company -- which has a cash reserve of S$110 million, -- was looking to buy companies that either manufacture components needed in its engineering projects or are involved in the logistics business. Rotary has acquired several firms across the Asian region in the past few years.

Chia also said Rotary plans, to invest up to S$30 million ($20 million) into a new fabrication facility in an upcoming petrochemical hub in China.

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Rotary says expects to win up to $300 mln Exxon orders
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