KUALA LUMPUR: Pioneer Heat Holdings Bhd has secured an RM18.2mil subcontract from Toyo Kanetsu (Malaysia) Sdn Bhd for tank rejuvenation works at the Tanjung Sulong Export Terminal in Kemaman, Terengganu.
In a filing with Bursa Malaysia, the company said its wholly owned subsidiary, BPMech Engineering Sdn Bhd, had accepted a letter of award for the engineering, procurement, construction and commissioning works.
The contract covers material supply, shop fabrication and field construction for the tank rejuvenation project.
Works are expected to commence in November 2026, with completion dates scheduled for July 2027 and March 2028.
“Barring any unforeseen circumstance, the contract is expected to contribute positively to the future earning of Pioneer throughout the duration of the contract,” it said.
The group intends to finance the project through internally generated funds and/or bank borrowings.
