KUALA LUMPUR (Sept 28): KNM Group Bhd, which is involved in oil and gas (O&G) equipment and services, has secured a contract worth RM13.4 million to build a pre-fabrication tank for a combined cycle power generating facility of up to 1,200MW at Pulau Indah, Selangor.

In a bourse filing on Tuesday, KNM said the contract was awarded by PEC Powercon Sdn Bhd to its wholly-owned unit KNM Process Systems Sdn Bhd (KNMPS), which is expected to deliver the tank in 11 months. PEC Powercon is principally involved in building constructions.

KNPMS, according to KNM, is involved in the design, engineering, procurement, and manufacturing of process equipment, including pressure vessels, reactors, columns and towers, drums, heat exchangers, air finned coolers, process tanks, and other turnkey storage facilities.

KNM shares ended 2.04% or half a sen higher at 25 sen apiece on Tuesday, giving the group a market capitalisation of RM832.01 million. It saw some 161.73 million shares done.

The stock has jumped 31.58% in the past year from when it closed at 19 sen on Sept 29, 2020.