Keppel Infrastructure obtained around S$40 million contract to design, build and operate pipe racks on Singapore’s Jurong Island, Keppel said in a filing to SGX before the market open on Monday.
JTC Corp. awarded the contract to Pipenet, a wholly owned subsidiary of Keppel Infrastructure, which is a wholly owned subsidiary of Keppel Corp., the filing said. Pipenet provides pipe-corridor rental services to companies transporting chemical feedstock and products on Jurong Island, it said.
The pipe racks will be located along parts of Banyan Drive, Banyan Avenue and Jurong Island Highway, facilitating pipeline connection to Jurong Rock Caverns, it said.
The project is expected to be completed by 2020 and will be operated by Pipenet for 15 years, with JTC having an option to extend for another 15 years, the filing said.
Pipenet already owns and operates a pileline corridor network on Jurong Island, most of which is along the Jurong Island highway, connecting the Merbau region to the Banyan and Tembusu regions, and running through the chemical cluster at the Sakra region, the filing said.