KLSE (MYR): GAMUDA (5398)
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ymtan
621 posts
Posted by ymtan > 2016-07-28 18:35 | Report Abuse
OK. Another project inside pockets... Pan borneo highway worth 1.57b .
INTRODUCTION
The Company wishes to announce that the Company together with Naim Engineering Sdn Bhd (Company No. 420203-W) (“NAIM”) had on 28 July 2016 accepted the award of the Works Package Contract – WPC-04 (Pantu Junction to Btg Skrang) comprised in the Pan Borneo Project (“Works”) from Lebuhraya Borneo Utara Sdn Bhd (Company No. 930689-H) (“LBU”).
INFORMATION ON THE WORKS
The Works is awarded to Naim Engineering Sdn Bhd – Gamuda Berhad JV (“Joint Venture”), an unincorporated joint venture comprising NAIM (70%) and Gamuda (30%) for a contract sum of RM1,567,200,000/- based on a total Works Package Contract period of 51 months.
Accordingly, the Joint Venture is required to form a Joint Venture company in due course to undertake the Works.