Mudajaya Secured RM152.38 Million Rapid Contracts for Pengerang Project

Mudajaya Secured RM152.38 Million Rapid Contracts for Pengerang Project

 

PETALING JAYA: Mudajaya Group Bhd’s wholly owned subsidiary Mudajaya Corp Bhd has bagged contracts worth RM151.38 million from Petroliam Nasional Bhd’s subsidiary PRPC Utilities and Facilities Sdn Bhd for the refinery and petrochemical integrated development (Rapid) project in Pengerang.

In a filing with Bursa Malaysia, Mudajaya’s board of directors said that it has been awarded two projects.

The first project entails the procurement, construction and commissioning a data center and telecom equipment room and electrical substation for utilities as well as an Interconnecting and Offsite (UIO) Facilities of Rapid project.

The second project involves the procurement, construction and commissioning of civil and infrastructure works at Area 8100 for Utilities, Interconnecting and Offsite (UIO) Facilities of Rapid project.

The first project is expected to be completed in July 2018, whereas the second project is expected to be completed by March next year.

“The projects are expected to contribute positively to the earnings of the group for the financial year ending 2017 and onwards,” the board said.

In a separate filing, Mudajaya’s 80% owned subsidiary MIPP International Ltd, incorporated a limited company in Brunei known as MIPP (B) Sdn Bhd.

The company was set up with a paid up share capital B$1,000, for equipment procurement and related support services.

Mudajaya’s shares were down 2.34% to RM1.25, with some 287,100 shares changing hands.

 

Source: The Sun Daily

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