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NewsSalcon-MMC-AZRB JV wins RM994 million Langat 2 water contract
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Salcon-MMC-AZRB JV wins RM994 million Langat 2 water contract
by Cals Fri 18 Apr 2014, 02:28
| Salcon-MMC-AZRB JV wins RM994 million Langat 2 water contract |
| Business & Markets 2014 |
| Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com |
| Thursday, 17 April 2014 15:37 |
KUALA LUMPUR (Apr 17): The joint venture (JV) entity of Salcon Bhd, MMC Corp Bhd and Ahmad Zaki Resources Bhd (AZRB), has received the letter of acceptance (LOA) from Pengurusan Aset Air Bhd for the RM993.9 million Langat 2 water-treatment plant and reticulation contract.
According to Salcon, MMC and AZRB's separate statements to the bourse today, Salcon Engineering Bhd, a subsidiary of Salcon, holds a 36% stake in the JV, while MMC has 34%. Ahmad Zaki Sdn Bhd which is a subsidiary of AZRB owns a 30% stake.
The contract, for duration of 36 months, entails the construction and completion of phase one of the Langat 2 water-treatment plant and reticulation system in Selangor and Kuala Lumpur.
Under the LOA, the JV will undertake package 2A which involves the construction and completion of a 1,130 million litres per day Langat 2 water treatment plant.
Salcon, MMC and AZRB said the project was expected to contribute positively to the earnings of these companies.
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