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Pestech to build RM53.8m power distribution system for smelting facility

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Pestech to build RM53.8m power distribution system for smelting facility Empty Pestech to build RM53.8m power distribution system for smelting facility

Post by Cals Thu 28 Nov 2013, 18:36

Pestech to build RM53.8m power distribution system for smelting facility
Business & Markets 2013
Written by Jeffrey Tan of theedgemalaysia.com   
Thursday, 28 November 2013 16:09
KUALA LUMPUR (Nov 28): Pestech International Bhd has clinched a RM53.8 million (US$16.6 million) contract to build an integrated power distribution system including substations for a smelting facility.

In a statement to Bursa Malaysia, the firm said it had via its wholly owned unit Pestech Sdn Bhd signed a design, build and turnkey contract with Metix Malaysia Sdn Bhd for Sakura Ferroalloys Sdn Bhd.

The contract for the RM53.8 million project is in relation to the design, engineering, procurement, construction, testing and commissioning of a 132/33/11 kV integrated power distribution system.

“The contract is expected to contribute positively to the future earnings and net assets per share of the group,” said Pestech.

“But it will have no material effect on the revenue and earnings of the group for the financial year ending Dec 31, 2013.”

Pestech said it expected the project to commence today and to be completed by May 29, 2015.

Additionally, the statement mentioned Sakura Ferroalloys is a JV between Assmang Limited, Sumitomo Corporation and China Steel Corporation, for the development of a smelter facility in Samalaju Industrial Park, Sarawak.
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