Pestech group awards RM217mil Cambodian project internally

PETALING JAYA: Pestech International Bhd subsidiary Diamond Power Ltd has awarded a US$60.60mil (RM217.56mil) contract to two other Pestech subsidiaries to design, build, test and commission a transmission system project in Cambodia.

In a filing with Bursa Malaysia on Tuesday, Pestech said its subsidiaries Pestech (Cambodia) Ltd and Enersol Co Ltd had inked agreements with Diamond Power Ltd, which is a 60%-owned subsidiary of Pestech.

Last month Diamond Power won the rights to develop the 230kV transmission line project on a build-operate-transfer basis, marking the Pestech group’s entry as an independent power transmitter on a concession basis,

The project will transmit electricity from the upcoming Hydro Power Lower Se San 2 plant in Stung Treng to Kratie and Kampong Cham.

Works are expected to start on June 1 and be completed by Nov 30, 2017.

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