Sunpower Group obtained a manufacturing and services tender valued at around 49 million yuan (S$9.48 million) from repeat customer Sinopec Nanjing Engineering & Construction, a subsidiary of Sinopec, the Singapore-listed company said Monday.
Under the deal, Sunpower will provide flare packages — or detachable elevated flares and a flare gas recovery system — for the Gulei Refinery and Chemical Integration Project, the largest petrochemical industry cooperation project on both sides of the Taiwan Straits, the company said in a filing to SGX.
Delivery is expected in 2020, with financial results for fiscal 2019 and 2020 expected to see a positive impact, Sunpower said.
“This contract win comes closely on the heels of our latest contracts from Sinopec, which signals a strong vote of confidence in Sunpower’s ability to supply superior equipment and solutions for large-scale petrochemical projects,” Guo Hongxin, executive chairman of Sunpower, said in the statement. “It also reaffirms the stable and strong partnership we have forged with Sinopec.”
In mid-September, Sunpower said it landed 55.7 million yuan (S$10.8 million or US$7.83 million) of manufacturing and services contracts from Sinopec Group to provide high-end environmental protection products and services.
