Ageson bags order for sand from China's GKI worth RM27.5bil

KUALA LUMPUR: Ageson Bhd’s wholly-owned subsidiary, Esa Pile Sdn Bhd has accepted a purchase order from Guangzhou Kaishengda Industrial Co Ltd (GKI) for river sand and sea sand for a period of 15 years, a contract valued about Chinese Renminbi 44.8 billion (approximately RM27.5 billion).

In a filing to Bursa Malaysia today, the company is expected to supply 50 million cubic metres of river sand per year and a 100 million cubic metre of sea sand per year to GKI starting from the third quarter this year.