KUALA LUMPUR (Dec 12): A joint venture between IJM Corp Bhd and Kumpulan Europlus Bhd (KEuro) has been awarded the contract to undertake construction works for the West Coast Expressway (WCE).

Today, the joint venture accepted the letter of award from West Coast Expressway Sdn Bhd, for the project costing no more than RM5.044 billion, said IJM Corp in a filing with Bursa Malaysia.

The joint venture was appointed as the engineering, procurement and construction contractor, whereby construction of the WCE project will span over a five-year period that will link Taiping to Banting.

According to the statement, the joint venture was formed by IJM Construction Sdn Bhd and KEuro on a 70:30 basis.

IJM Construction is a wholly-owned subsidiary of IJM Corp, while West Coast Expressway is an 80%-owned subsidiary of KEuro.

IJM Corp share pice fell 6 sen or 0.9% to RM6.43, giving it a market capitalisation of RM9.59 billion.

KEuro share price ended flat at RM1.03, with a market capitalisation of RM1.03 billion.