KUALA LUMPUR (Jan 31): Pestech International Bhd has secured two contracts from Tenaga Nasional Bhd for a total of RM280.89 million, one of which is to install a double circuit underground cable in Kuala Lumpur and the other, to establish a main intake substation (PMU) in Kedah.
In a stock exchange announcement today, Pestech said its wholly-owned unit Pestech Sdn Bhd (PSB) had received a RM168.39 million contract from Tenaga to establish the PMU 500/275kV Junjung (3x1050 MVA) in Kedah.
The project is expected to last 912 days and is meant to reinforce the power grid network of Northern Peninsular Malaysia, as well as to improve the security of supply.
In a separate bourse filing, the group said its subsidiary’s 50% joint venture company Pembinaan Tajri Sdn Bhd-PSB had bagged a RM112.5 million contract from Tenaga to install a double circuit 275kV XLPE underground cable from PMU Prince Court to PMU Ampang.
The project entails the design, manufacture, supply, erection and commission of the cable, which will run through central Kuala Lumpur from the Prince Court area to Jalan Taman U-Thant and connecting to Jalan Ampang towards Jelatek area, Pestech said.
"The cable system is to deliver a minimum of 500MVA power for each 275kV cable circuit under this project; considering full load operation of all cable circuits inclusive of the neighbourhood power cable systems," it said.
"The duration of the project is 730 days from the commencement date," the group added.
Pestech said both projects would contribute positively towards its revenue and earnings, with progress from the projects to be recognised in its financial years ending June 30, 2019 to June 30, 2021.
At 2.36pm, shares in Pestech rose 6 sen or 5.22% to RM1.21. The group has a market capitalisation of RM924.8 million.