October 16, 2008

PPI Industries eyeing MYR 150 million project in East Malaysia

It is reported that PPI Industries Sdn Bhd, a wholly owned subsidiary of Wah Seong Corp Bhd, is eyeing to secure MYR 150 million oil & gas project in East Malaysia.

Mr Giancarlo Maccagno deputy MD of Wah Seong Corp Bhd, while addressing at the 25th anniversary of PPI Industries’ celebration at its plant in the Prai Industrial Estate said that “PPI would know the outcome of the bidding by the end of the year. The project requires PPI to produce and coat some 500 kilometer of pipes for an oil and gas project. Should we obtain the project, we will set up a plant in East Malaysia to support the project."

Mr Maccagno said that this was not the first time PPI Industries, which specialized in making spiral welded steel pipes for the infrastructure and water industries, got involved in the oil and gas business. Between 1995 and 2000, PPI Industries produced and coated some 800 kilometer of pipes for a major oil and gas project in Malaysia.

Meanwhile, Mr Yap Wing Chun chairman of PPI Industries said that it was in talks with China Harbour Engineering Corp to supply steel pipes for the second bridge project in Penang. He added that "We presently have about MYR 100 million worth of orders for projects in the country and overseas.”

The overseas projects include the Batu Hijau iron ore mine in Sumbawa in Indonesia, the Binh An project in Vietnam and the grain terminal venture in Adelaide in Australia. In Malaysia, PPI industry is involved in projects such as the Johor Singapore second link, Petronas oil refinery in Malacca, the Kerteh ethylene plant in Terengganu, Manjung power station in Perak and the Penang bridge extension project.