Sembmarine’s subsidiary clinches $241.05m LNG process modules assembly contract

Work will start on November.

Sembcorp Marine yesterday revealed that its wholly-owned subsidiary SMOE has secured a contract with Bechtel for the fabrication of liquefied natural gas processing modules for a resource project in Western Australia.

Work on the modules is expected to commence in Indonesia from November 2014. The contract value is estimated at $241.05m (USD$190 million).

The contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of Sembcorp Marine for the year ending December 31, 2014.

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