EPC players

EPC players: may benefit from increased activity at Jurong island. China Huaneng plans to spend an additional ~$800m to convert Tuas Power’s two older oil-fired steam plants into more-efficient, gas-firing ones. Huaneng, which has already invested over $6bn in Spore, is set to award the first of the repowering EPC deals this month. Construction of the first phase is expected to start this year-end, and will take about two and a half years to complete…

Other projects on Jurong island include,
i) Tuas Power Tembusu Multi-Utilities Complex (see above),
ii) Neste Oil's $1.2 billion biodiesel facility which is starting up shortly,
iii) PowerSeraya $800m repowering project (similar to Huaneng’s above) to be inaugurated later this month,
iv) Senoko Energy’s $750m repowering project,
v) Island Power’s $1.2 bn, 800-MW station in 1Q11,
vi) Sembcorp’s new $800m multi-utilities facility, including a 400-MW plant,...
vii) expansion of Keppel’s Merlimau Cogen to 900-MV from 500-MW…
Key beneficiaries include PEC, Hiap Seng, Rotary, upcoming listing Mun Siong, which have sizeable exposure to Jurong island projects.