Saturday, 04 Jul 2020
BUSINESS
29/06/2020 11:19 PM

KUALA LUMPUR, June 29 -- Kumpulan Powernet Bhd (KPower) has received a RM174.5 million civil works contract relating to the development of hydropower energy generating facilities in Laos’ Houaphan Province.

Wholly-owned subsidiary KPower International (L) Ltd, which accepted the letter of award from Zhenghong Building Road & Bridge Construction Co Ltd today, would construct and commission the works related to the development of 3x5 megawatt (MW) Taep 1 and 3x5 MW Nam Taep 2 at Ban Nam Taep and Ban Nam Nameuang, Xam Tai District.

“The scope of work for KPower includes the construction, supervision, testing, commission, reliability test, remedy of defect during the defect liability period and provision of all equipment, both permanent works and temporary works in connection with the project,” it announced to Bursa Malaysia. 

In a media statement, group managing director Mustakim Mat Nun said the award would further strengthen KPower’s presence in Laos.

“This award is expected to contribute positively to the company’s net assets, consolidated earnings and earnings per share for the financial year ending June 30, 2021 and 2022.

“With the new financial year just a few days away, we are working hard to fulfil our target of RM2 billion order book for financial year ending June 30, 2021,” he added.

-- BERNAMA

 

 


 

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