Oiltek bags $13.78m contract in Latin America

The group's total new contracts this year have reached around $59.94m.

Oiltek International Limited has secured an additional contract in Latin America valued at approximately $13.78m through its subsidiary, Oiltek Sdn. Bhd, its bourse filing announced.

The contract covers the design, fabrication, delivery, testing, and commissioning of three facilities, namely a 400 metric tonnes-per-day neutralisation plant, an acidulation plant, and a downstream niche product refining plant. 

With this contract, Oiltek’s total new contracts secured this year have reached around $59.94m. 

Whilst the contract is not expected to significantly impact the company’s financial performance for 2024, it is anticipated to contribute positively starting in 2025.