KUALA LUMPUR (Nov 11): MMC Corp Bhd's wholly-owned subsidiary MMC Pembetungan Langat Sdn Bhd (MMC PLSB) will be taking over a project to build a centralised sewage treatment plant and sewage pipes network connection in Selangor worth RM1.51 billion from the MMC-Sumimoto Consortium.

MMC Corp announced on Bursa Malaysia today that it had received a letter of acceptance dated Nov 4 from the Ministry of Energy, Green Technology and Water (KeTTHA) for MMC PLSB to design and build the sewage treatment plant and the pipe network connection in the basin catchment area in Sungai Langat.

MMC Corp said that the duration of the project is 59 months.

The letter of acceptance issued to MMC PLSB supersedes the Oct 7, 2014 letter of acceptance issued to the MMC-Sumitomo consortium for the project, the group added.

"The project is expected to contribute positively towards the earnings and net assets of MMC Group commencing from the financial year ending Dec 31, 2015. The project will not have any effect on the share capital and substantial shareholders' shareholding of the company," MMC Corp said.

MMC Corp added that it does not foresee any exceptional risks from the project other than execution risks.

Shares in MMC Corp closed two sen or 0.87% lower at RM2.28 for a market capitalisation of RM7 billion.

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