KUALA LUMPUR: Wah Seong Corp Bhd has secured a US$254.09mil (approximately RM1.06bil) midstream contract by East African Crude Oil Pipeline (EACOP) Ltd.

       In a filing with Bursa Malaysia, Wah Seong said its indirect subsidiaries, ISOAF S.r.L and ISOAF TZ Limited have been awarded the contract for the provision of line pipe thermal insulation services for the East African Crude Oil Pipeline (EACOP) project and feeder line, located between the town of Kabaale in Uganda and the port of Tanga in Tanzania.

       The work and services are expected to be completed within 30 months from Feb 18, 2022.

       “The work and services to be performed under the contract are within the business scope of the coatings division of Wah Seong group and the risks are the normal operational risks associated with the said business,” it said, adding that the contract was project-specific and not renewable.

       Wah Seong expects the contract to contribute positively to its earnings over the contract period.