CFA Institute Singapore
SINGAPORE (Jan 12): Jiangsu Sunpower Technology Co., a wholly-owned subsidiary of environmental protection solutions provider Sunpower Group, has won an engineering, procurement and construction (EPC) contract worth RMB 107.0 million ($21.9 million).
Under the contract, Sunpower will provide EPC services for a flare gas recovery system to China-based Zhejiang Petrochemical’s refinery and chemical integration project, which has an annual production capacity of 40 million tons.
Expected to be delivered by end-FY2018, the flare gas recovery system will be the largest ever in the petrochemical industry in China.
Sunpower says the contract is expected to have a positive impact on its results for FY2018.
“Looking forward, we will continue with our efforts to further solidify our position as the market leader in the flare gas recovery industry, proactively exploring new markets and increasing market penetration in a broader region,” says Sunpower Group chairman Guo Hongxin.
Shares of Sunpower Group closed 1 cent higher at 56 cents on Friday.