PETALING JAYA: Coastal Contracts Bhd
has secured a contract with Petroleos Mexicanos (Pemex) for the design, engineering, transport, installation, interconnection, commissioning, testing and startup of the permanent primary infrastructure of the second Perdiz Plant at the Ixachi Field, Mexico, worth RM367.1mil.
Following the successful completion of the project within the stipulated timeline, the shipbuilding firm said the plant has now commenced operations.
“The plant has commenced operations and is expected to contribute towards reducing Pemex’s current gas flaring activities at the Ixachi Field by processing the associated gas that would otherwise be flared,” it said in a Bursa Malaysia filing.
In a separate development relating to the second Papan Plant contract, Coastal Contracts said a trust agreement with Pemex and a Mexican trustee bank has been secured.
“The project is expected to contribute positively to Coastal’s earnings and net assets for the financial year ending Dec 31, 2026, it said.
