X Close

Archives

Saturday May 24, 2008

IJM-Norwest clinches RM490mil rail contract

PETALING JAYA: IJM Corp Bhd’s joint-venture company has secured a RM490.12mil contract for the construction of a portion of the Seremban-Gemas railway project.

The 100km electrified double-tracking railway project is estimated to cost RM3.45bil and take four years to complete.

The company told Bursa Malaysia yesterday that IJM-Norwest Joint Venture had received a letter of acceptance dated May 21 from India's Ircon International, which has secured the project.

The contract involves the construction, commissioning and maintenance of infrastructure works for the electrified double-track project. The construction period is 21 months.

IJM said the company was a 70:30 joint venture between its unit, IJM Construction Sdn Bhd, and Norwest Holdings Sdn Bhd.

Analysts expect IJM to be able to secure RM2bil in new projects this year. The company has already clinched three overseas contracts worth a total of RM1.24bil.

The latest contract would lift IJM's outstanding order book to nearly RM6bil.

advertisement

  1. Malaysian passport 9th best in the world
  2. Japanese oil tanker robbed, three crew believed kidnapped in dramatic dawn raid
  3. KL set to be in 'security lockdown'
  4. Wanted: A rational water plan
  5. 'Godfather' believed to have killed 13-year-old boy
  6. Every kind of success in life depends on our virtues as a person
  7. Brave boy comforts family
  8. College staff turn to loan sharks after salaries unpaid for four months
  9. David Moyes parts ways with Manchester United, Ryan Giggs temporarily takes charge
  10. Selangor MB Khalid: Can't stop water rationing yet, but will review next week

advertisement

advertisement