JGC Wins $2 Billion Order for Petronas LNG Plant in Malaysia
Stock Chart for JGC Corp (1963)
JGC Corp. (1963), a Japanese engineering company, won a $2 billion contract from Malaysian state oil company Petroliam Nasional Bhd. to expand a liquefied natural gas plant in Malaysia.
Under the engineering, procurement, construction and commissioning contract, Yokohama, Japan-based JGC will build an additional LNG plant at the Bintulu site in the east Malaysian state of Sarawak by the end of 2015, it said in a statement. The ninth train will have capacity of about 3.6 million tons per year, it said.
The Malaysian company, known as Petronas, said last year that JGC will compete for the expansion project against a partnership of Japan’s Chiyoda Corp. (6366) and Italy’s Saipem SpA. (SPM) JGC, which has constructed the eight existing trains at the plant, is working for four LNG EPC projects in Australia, Indonesia and Papua New Guinea, according to the statement.
JGC shares rose as much as 2.3 percent, the most since Feb. 19, to 2,534 yen on the Tokyo Stock Exchange. The benchmark Nikkei 225 Stock Average rose as much as 0.8 percent.
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