Sarawak-based oil and gas integrated support services provider Ocean Vantage Holdings has collaborated with Toyo Engineering & Construction to jointly bid for the tender of a downstream O&G, Senari Synergy project in Kuching, Sarawak.
According to the group’s filing to Bursa Malaysia today, its wholly-owned subsidiary Ocean Vantage Engineering Sdn Bhd signed an unincorporated consortium agreement (UCA) with Toyo yesterday.
Under the agreement, Ocean Vantage said the unincorporated consortium will jointly tender for engineering, procurement, construction and commissioning (EPCC) works for an oil storage terminal project by Senari Synergy located in Senari Synergy Industrial Complex, Kuching, Sarawak.
According to the company, Toyo is a renowned EPCC provider for petrochemical, chemical and general industries in Malaysia. It has undertaken numerous projects in Malaysia, Indonesia and Singapore, ranging from petrochemical to manufacturing-based projects.
In a separate statement, Ocean Vantage managing director Kenny Ronald Ngalin said the strategic formation of both companies will create “significant synergies” and bring them “to the forefront of the race”.
The group said the agreement is valid until March 18, 2021 unless extended further by mutual parties.
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