WCT bags RM315.6mil Rapid job from Petronas

KUALA LUMPUR: WCT Holdings Bhd has been awarded a RM315.6mil contract from Petroliam Nasional Bhd (Petronas) for works in Refinery and Petrochemical Integrated Development (Rapid) in Pengerang Johor. 

This was subsequent to the RM341.9mil contract for the provision of package 20C1 that was awarded to the blue-chip conglomerate, also in Rapid, on July 22. 

According to its filing with Bursa Malaysia on Thursday, the contract was awarded by  PRPC Utilities and Facilities Sdn Bhd, a subsidiary of Petronas, and was expected to be completed in 33 months from the effective date.

“Contract is expected to contribute positively to the group’s future earnings and net assets,” it said. 

Basically, the contract listed three main scope of works for utilities, interconnecting and offsite facilities, engineering, procurement, construction and commissioning of substations, field auxiliary rooms, operator shelter building and local control building. 

WCT Holdings is investment holding company with two main subsidiaries with three core businesses, namely engineering and construction, property development, property investment and management.

The counter lost a sen or 0.75% to RM1.32 at the end of trading on Thursday.