PETALING JAYA: Coastal Contracts Bhd
's joint venture company in Mexico, Coastoil Dynamic SA De CV (CD) has signed an addendum to its contract with Petroleos Mexicanos (Pemex), Mexico's state-owned petroleum company.
In a filing with Bursa Malaysia, Coastal stated under the addendum, Pemex has agreed to extend the existing gas sweetening services contract up to the end of 2027. The value of the contract extension is RM323.81mil.
Coastal stated the contract extension is expected to contribute positively to its earnings and net assets for the financial years ending Dec 31, 2026 and 2027.
CD is a JV between Coastal Marine Pte Ltd, a wholly-owned subsidiary of Coastal and its Mexican strategic business partner, Grupo Empresarial Alfair S.A.P.I. De C.V.
