Dyna-Mac has secured two fabrication projects for a provisional sum of US$30 million from two new customers.
The group has been awarded a contract by Cameron Solutions Inc., a Schlumberger company acting through its Process Systems Group, for the fabrication of a MEG reclamation unit for the Leviathan production platform project. The fabrication will start soon, and is expected to complete by Q3 2018.
The second project is for the fabrication of a skid package for Papua New Guinea. The project will begin soon and is expected to complete by Q2 2018.
The above orders are expected to have a positive contribution and impact to Dyna-Mac’s earnings per share and net tangible assets for the year ending 31 December 2017.