KUALA LUMPUR: CB Industrial Product Holding Bhd (CBIP) has secured four contracts worth RM131.7 million to build two palm oil mills, a palm kernel crushing plant and a biogas power generator plant.
In an exchange filing today, CBIP said the contracts were awarded via its subsidiary PalmitEco Engineering Sdn Bhd from PT Sanjung Makmur and PT Kodeco Agrojaya Mandiri.
PT Sanjung Makmur’s RM44.75 million contract involves building a palm oil mill with processing capacity of 45 tonnes of fresh fruit bunches (FFB) per hour within 18 months.
In a separate filing, CBIP said the other three contracts worth RM86.96 million involved building a palm oil mill with processing capacity of 60 tonnes of FFB per hour, a kernel crushing plant with processing capacity of 200 tonnes per day and a 1,600-kilowatt biogas power generator plant.
The three contracts are for 16 months.
“All the contracts are expected to contribute positively to our group's earnings and net assets per share for the financial year ending December 31, 2019 onwards until completion of the contract works,” CBIP said.