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BUSINESS

Nestcon unit bags RM90.4 mln ECRL deals

12/01/2022 08:03 PM

KUALA LUMPUR, Jan 12 -- Nestcon Bhd has accepted two sub-contract awards from China Communications Construction (ECRL) Sdn Bhd involving the East Coast Rail Link project in Kota Bharu, Kelantan worth RM90.4 million via wholly owned subsidiary Nestcon Infra Sdn Bhd.

The construction and engineering company told Bursa Malaysia in a filing that the infrastructure works for the construction and completion of subgrade works are for Package S1-1, Section 1, and Package S1-2 Section 1, amounting to RM44.98 million and RM45.42 million respectively.

“The date of commencement of the sub-contract works shall be Feb 7, 2022 and the construction period for Project S1-1 and Project S1-2 are within 32 months and 28 months from the date of commencement respectively,” the company said.

Nestcon said the work is expected to be completed by Sept 30, 2024 for Project S1-1, and May 31, 2024 for Project S1-2.

The awards are expected to contribute positively to its net assets per share, earnings per share and gearing for the financial year ending Dec 31, 2022 and throughout the duration of the sub-contract works.

-- BERNAMA


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