Keppel DHCS, a wholly-owned subsidiary of Keppel Infrastructure Holdings, has won a contract worth $300 million by JTC on Oct 28.
Under the contract, Keppel DHCS will build, own and operate a new district cooling system (DCS) plant for 30 years in the upcoming Bulim Phase 1 of the Jurong Innovation District (JID).
The contract comes on the back of the award of the design phase to Keppel DHCS, which was announced in September 2018.
The new DCS plant is expected to be completed in 2022. It has the ability to serve up to 14,000 refrigeration tons (RT) and provide a high quality and reliable chilled water supply service to the developments in Bulim Phase 1.
Bulim is one of the five precincts in JID, which is a one-stop advanced manufacturing hub.
In Singapore, Keppel DHCS currently provides environmentally-friendly DCS services to Changi Business Park, one-north (Biopolis, Fusionopolis, Mediapolis) and Woodlands Wafer Fab Park.
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“As the first and largest DCS service provider in Singapore, Keppel DHCS is pleased to support JTC’s vision of its Jurong Innovation District with the provision of our efficient and environmentally-friendly cooling solutions,” says Dr Ong Tiong Guan, CEO of Keppel Infrastructure.
“To be selected for one of JTC’s landmark projects is a testament to the high reliability, quality and sustainability of our facilities and service. We will draw on our strong track record and experience to ensure the ontime delivery of this critical infrastructure system to the JID,” Ong adds.
The contract is not expected to have any material impact on the earnings per share and net tangible asset per share of Keppel Corporation for the current FY.
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Shares in Keppel Corporation closed 11 cents lower or 2.5% down at $4.34 on Oct 28.
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