KUALA LUMPUR: Econpile Holdings Bhd has bagged a RM95.5mil contract for piling and related works for Arte Mont Kiara.
The piling and foundation specialist said in a statement that its unit, Econpile (M) Sdn Bhd, was contracted by Nusmetro Property Sdn Bhd (Nusmetro) to undertake earthworks, piling, and basement construction works for the mixed development project in upscale Mont Kiara.
It said Arte Mont Kiara, situated within established neighbourhoods including Mont Kiara, Sri Hartamas, and Dutamas, consists of three towers of office suites and serviced residences.
It is located within the 75.5-acre KL Metropolis mega project, which is envisioned to be the “International Trade and Exhibition City” for Kuala Lumpur.
Econpile executive director and group chief executive officer Raymond Pang said the award of the project to Econpile reflected the continued confidence of Nusmetro in its piling and substructure services.
He noted that Econpile had almost completed substructure works for Arte+ at Jalan Ampang, another project awarded by the same developer.
Works for Arte Mont Kiara are expected to begin early next month. The job spans 19 months and is slated to be completed by June 2017.
“Together with this latest contract, the group’s total order book to date stands at RM630mil, which will be recognised till 2017,” Pang said.
Hence, this contract is expected to contribute positively to the Group’s financial performance for the financial years ending 30 June 2016 and 2017.
Econpile shares lost one sen to close at RM1.07 at yesterday’s close.