PEC Clinches $160.5m European Contract

Wednesday, March 10, 2010

PEC Ltd. announced that Verwater-Audex B.V., a 50-50 joint venture company between its subsidiary Audex Pte Ltd and Verwater B.V., has won a $160.5m contract to build a 465,000 m3 tank terminal in the strategically located port of Rotterdam (Netherlands).

Verwater-Audex will provide engineering, procurement and construction (EPC) services to build the tank terminal for Euro Tank Terminal B.V. (ETT). The project is slated for completion by 2012 and will boast state-of-the-art facilities. ETT is wholly owned by Vitol Tank Terminal International (VTTI) which owns and operates terminals and pipelines around the world. VTTI is a wholly owned affiliate of the Vitol Group, a provider of trading and marketing services across the oil and energy sector.
 

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Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

Source: Siemens Offering $6.1 bln for Dresser Rand

Germany's Siemens plans to offer more than $6.1 billion, or $80 per share, for U.S. compressor and turbine maker Dresser-Rand, Germany's Manager Magazin said on Friday.

Transas Simulators Boosts Western Shipping Training Center

Transas Marine Pacific has successfully completed the upgrade of a simulator complex for Western Shipping Pte. Ltd. training center. The simulator class was

 
 
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