ENGINEERING AND instrumentation group Kentz has a pipeline of close to $2.4 billion (€1.77 billion) of contracts on its books, the Irish company said yesterday.

It signalled it is interested in acquiring or investing in other businesses.

Kentz said in an interim management statement its backlog at the end of October was $2.38 billion, up from $1.6 billion at the end of June this year. Earnings from these contracts will run up to the end of 2015.

The group’s statement said yesterday that “trading since July is in line with expectations and we remain confident of meeting market expectations for the full year”.

In its outlook, Kentz said it “remains receptive to” any strategic opportunities such as capital investments or acquisitions that come in its way.

The Irish company and a joint-venture partner, New York-listed construction and engineering specialist CBI, recently won a $2.3 billion contract for mechanical, electrical and instrumentation work at Chevron’s Gorgon liquid natural gas project in western Australia.

Kentz has a 35 per cent share of the contract.

It is also working with CBI and Clough on a natural gas project in Papua New Guinea.

It has also agreed a $32.7 million contract with Saudi Arabian mining group Ma’aden Alcoa.

Kentz said is has focused mainly on the oil and gas, metals and mining industries.

In the immediate future it is targeting oil and gas projects in Iraq and contracts with existing clients in Russia.

The Irish company transferred to London’s main exchange from its Alternative Investment Market in September, and is now included in the FTSE 250 index. It originally listed in February 2007.

The group said it remained confident about the outlook for the rest of this year and into 2012.

Chief executive Hugh O’Donnell said its order book had grown by 50 per cent in the year to date.