Ekovest unit signs incentive deal with govt on Bunus STP enhanced design

 Publish date: Thu, 20 Apr 2017, 03:14 AM

KUALA LUMPUR: Ekovest Bhd's wholly-owned unit, Ekovest KL Bund Sdn Bhd, has inked an incentive agreement with the government for the enhanced design of the Bunus Regional Sewage Treatment Plant in Kuala Lumpur (Bunus STP).

Bunus STP is part of the Greater KL River of Life project undertaken by the Ministry of Federal Territories and Sewerage Services Department, in which Ekovest serves as the project delivery partner.

In a filing to Bursa Malaysia, Ekovest said the agreement shall be effective until January 30, 2019, and the total incentive for Bunus STP shall not exceed RM100 million, or 75 per cent of the cost savings, whichever is lower, exclusive of all duties and taxes.

"The enhanced design has successfully contributed to the government"s cost saving of RM94.67 million, which translates to a total amount of about RM70 million incentives payment to the company," it said.

Ekovest managing director Datuk Seri Lim Keng Cheng said with the enhanced design, the project only required 6.49 hectares of land instead of 19 hectares required for the original design.

"This allows the government to utilise the remaining land area of 12.51 hectares for future expansion of the BUNUS STP and for implementation of other infrastructure projects which would benefit the people," he said.

Apart from Bunus STP, Lim revealed that the company also worked with the government on the upcoming incentive agreement for the enhanced design on Batu, Jinjang-Kepong Sewage Treatment Plant.

"The project willl contribute to government"s cost savings of RM114.60 million.

"In total, the cost savings for both Bunus and Batu, Jinjang-Kepong Sewage Treatment Plant will amount to RM209.27 million," he added. - BERNAMA

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