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Pestech gets RM85m Sarawak Energy contract
by Cals Wed 15 Jan 2014, 14:31
| Pestech gets RM85m Sarawak Energy contract |
| Business & Markets 2014 |
| Written by Chong Jin Hun of theedgemalaysia.com |
| Wednesday, 15 January 2014 13:21 |
KUALA LUMPUR (Jan 15): Pestech International Bhd has secured an RM84.98 million electricity-transmission contract from Sarawak Energy Bhd.
In a statement to the exchange today, Pestech said the contract involves the construction, testing and commissioning of Sarawak Energy's Mambong and Entinggan 275 kV substation extension in Kota Samarahan, Sarawak.
"The project serves as a critical interconnection point for electric power export from Sarawak to West Kalimantan, Indonesia and to improve the reliability and security of the 275kV electrical-transmission network around Kuching.
"The project is expected to commence on 20 January 2014 and to be completed within 23 months from the commencement date," Pestech said.
According to Pestech, the project will have no material impact on the company's financials for current year ending December 31, 2014.
The firm however said the contract is anticipated to contribute positively to Pestech's future earnings and net assets per share.
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