Ekovest set to clinch the Blue River Project

The beautification phase of precinct 7 in the River of Life project covers important landmarks such as Masjid Jamek and will be completed next year.

KUALA LUMPUR: Kuala Lumpur City Hall (DBKL) seeks to appoint Ekovest Bhd’s unit EkoRiver Construction Sdn Bhd (ERCSB) as the design and build contractor for the proposed “Blue River Project” in the vicinity of the River of Life Precinct 7 – Masjid Jamek Kuala Lumpur zone.

In a filing with Bursa Malaysia, the construction and property development firm said ERCSB received DBKL’s letter of intent on the matter on Tuesday.

Ekovest estimated the project’s total contract value at RM79mil, excluding goods and services tax.

“The project is subject to finalisation of its price, specification and terms to be negotiated between DBKL and ERCSB,” it said.

Ekovest said it would make an announcement to the stock exchange as and when there was a material development in relation to the project.

Ekovest Bhd has a 60% stake in the joint-venture company that was appointed in 2011 as the project delivery partner for the River of Life project by the Government. Malaysian Resources Corp Bhd (MRCB) holds the remaining 40%.