Rotary Engineering

Rotary Engineering: Group announced two contracts worth $42m, for the construction of three storage tanks for specific conditions and the fabrication and installation of pipe rack modules, both projects on Jurong Island. Contracts will commence in the 1st quarter of 2013. Mgmt stated that infrastructure services in the oil & gas industry is still robust, underpinned by the strong demand for energy from China, India and the ASEAN, supported by a stable oil price. Current order book stands around $770m.