Ramunia unit has jobs worth RM500m
Business Times
25 February 2006

Ramunia Fabricators Sdn Bhd (RFSB) has secured over RM500 million worth of contracts as of end January, enough to keep the company’s fabrication yard busy until July.

Ramunia Holdings managing director Arshad Ahmad said the contracts in hand are significantly more than the total RM410.4 million projects awarded last year.

Clients for the current contracts include Hyundai Heavy Industries, Keppel, Petronas Carigali, Shell and Talisman Energy.

RFSB, which undertakes engineering and fabrication works for the oil and gas industry, is the main revenue contributor to Ramunia Holdings.

Speaking to reporters in Kota Tinggi, Johor, recently, Arshad said fabrication capacity of the Teluk Ramunia yards could double to 60,000 tonnes from the current 30,000 tonnes in early 2008.

The company has a RM200 million plan to upgrade the 68ha yard in the coming three years.

“We are trying to capture some deepsea contracts by providing a bigger capacity to handle longer offshore structures,” he said, adding that the company would finance the expansion through bank borrowings or the capital market.

The company is also seeking potential partners to set up tubular rolling plant and a process equipment skid in future, said Arshad. “We are talking with (potential) technical partners but we can’t announce it yet. They are not local companies,” he added.

Currently, Ramunia Holdings is bidding for international projects worth an estimated RM747 million and local projects amounting to RM550 million.