ECONPILE SECURES RM43.8 MLN PILING CONTRACT IN CAMBODIA

KUALA LUMPUR, May 24 (Bernama) -- Piling and foundation specialist Econpile Holdings Bhd has further cemented its presence in Cambodia by securing a US$9.5 million (about RM43.8 million) piling contract for a mixed high-rise development project.

Econpile’s wholly-owned subsidiary in Cambodia, Global Piling Solutions Co Ltd, secured a letter of acceptance from Odom Living Co Ltd to undertake bored piling and “diaphragm” wall works for Odom Development at Norodom Boulevard, Sangkat Tonle Bassac in Phnom Penh.

The project duration will span 248 days from June 1, 2023.

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Group chief executive officer of Econpile Holdings Bhd Raymond Pang said Econpile is “seeing the fruition of its efforts in cementing its presence in Cambodia.”

“This new win is our second project in the country, further uplifting our reputation and placing us favourably in future tenders.

“Our work to support this high-rise undertaking corresponds well with our scope of expertise and allows us to support Cambodia’s changing landscape.

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“Our fleet of machinery, existing team and familiarity with the industry dynamics in Phnom Penh should work in our favour in implementing this project,” he said in a media statement.

The new contract brings the group’s recent wins year-to-date to RM266.7 million and boosts its current order book to RM410 million, which will be recognised until 2024.

Prior to this, Econpile had secured its first contract in Cambodia worth US$85.7 million (RM347.6 million) in December 2020 to undertake piling and substructure works for an integrated entertainment complex in Phnom Penh.

-- BERNAMA