KUALA LUMPUR (Dec 27): Ranhill Utilities Bhd's unit secured a RM38.5 million contract from the Public Works Department (JKR) to upgrade the piping system for treated water supply at the Royal Malaysian Navy Base in Lumut, Perak.

The project, which will be fully funded by JKR, is estimated to span 27 months starting from Jan 6, 2023, and be completed by March 27, 2025, according to Ranhill Utilities in a Bursa Malaysia filing.

The project was secured by its wholly owned subsidiary Ranhill Water Services Sdn Bhd (RWS) through a competitive tender exercise by JKR.

The scope of the design-and-build project comprises the replacement of existing old pipes to mild steel pipes varying from 150 millimetres to 500 millimetres in diameter with a total length of 61 kilometres, construction of a new booster pumping station, and refurbishment of existing reservoirs and ancillary equipment.

"This win further solidifies RWS' reputation throughout Malaysia as a leader in holistic water network management for both government and private sectors," said Ranhill Utilities.

Its shares closed half a sen or 1.1% lower at 45 sen on Tuesday (Dec 27), giving the group a market capitalisation of RM583.16 million.