Keppel bags district cooling system order, expects to generate S$950m in payments
$Keppel(BN4.SG$ has clinched a contract to design, build, own and operate a new large-scale district cooling system (DCS) plant for 30 years, during which the conglomerate expects to generate about S$950 million.
In a bourse statement, Keppel said the deal won by its infrastructure division from the Urban Redevelopment Authority is for a DCS plant in the Jurong Lake District.
This will bring in estimated payments amounting to about S$950 million from real estate developers, owners and occupants for the design and building of the DCS, as well as the supply of chilled water and operations and maintenance of the DCS over 30 years.
In total, the DCS is estimated to be able to reduce over 145,000 tonnes of carbon emissions over the 30-year operating period, equivalent to planting 100,000 trees.
Keppel does not expect the order to have any material impact on its earnings per share and net tangible asset per share for the current financial year.
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