KUALA LUMPUR (Dec 12): Pestech International Bhd has received a notice of award for a contract worth RM93.73 million in the Philippines for a 230kV outdoor substation.

In a filing today, Pestech said its unit Pestech Sdn Bhd had received the notice from the National Grid Corp of the Philippines (NGCP) for the contract in relation to the Cebu-Bohol 230kV Interconnection Project.

It said the offshore portion of the contract was worth US$13.89 million (RM57.7 million) while the onshore portion was worth 439.9 million Philippine peso (RM36.03 million).

Pestech said this was the third power infrastructure project awarded by NGCP to the group after the TIWi and Calamba projects.

"The award of contract signifies that Pestech has demonstrated its capability and competency in delivering its works and garnered the confidence of its client," it said.

Under the project, Pestech will deliver a new 230kV outdoor substation at Bohol as well as 138kV extension works at the existing substation at Bohol.

The firm said NGCP has lined up an array of projects to improve the country's transmission networks and is expected to continue investing in the electrical infrastructure backbone in order to support the robust growth of the Philippines.

It said the duration of the project is 450 days and the commencement date of the project will be determined by NGCP later.

Pestech said the project will contribute positively towards its earnings in accordance to the stage of project progress to be recognised in the financial years ending June 30, 2020 to June 30, 2021.