Artist’s impression of the PingZhen underground commuter station.

KUALA LUMPUR (Oct 27): Gamuda Bhd has bagged a NT$14.5 billion (RM2.13 billion) contract to construct an underground rail track and commuter station in Taiwan's TaoYuan city, jointly with a local company.

Gamuda said it was appointed as the main contractor for the the package of the TaoYuan City Underground Railway Project by Taiwan's transportation ministry and state-owned railway company Communications’ Railway Bureau.

The job was awarded to a 60:40 joint venture between Gamuda and Asia World Engineering & Construction Co (AWEC), said Gamuda, adding that the group was expected to receive RM1.28 billion in revenue (60% of the RM2.13 billion) from the contract.

AWEC is a Taiwan-based company principally involved in general civil construction, specialising in geotechnical, hydraulic, architectural and civil engineering.

“The project will require the construction of a 3.734 km underground twin-bound railway track with an underground commuter station at PingZhen, and is estimated to be completed within [eight years],” said Gamuda in a statement.

This is the Malaysian engineering, property and infrastructure group's sixth project in Taiwan.

The group noted that its first project in the country was a 3.86km package of the 43km Kaohsiung Metropolitan Mass Rapid Transit Line.

“Gamuda’s ongoing projects in Taiwan include the construction and completion of a 1.23km marine bridge at Guantang, and a 376-metre extension of the bridge; a 4,014m-long seawall at the Taipei Port and a 7.3km 161-kilovolt underground transmission line from Songshu to Guanfeng,” added Gamuda.

Shares of Gamuda ended eight sen or 2.08% higher at RM3.93 on Thursday (Oct 27), giving the group a market capitalisation of RM10.18 billion.