One of Pestech's project Job done: :Design, Engineering, Supply, Erect and Commissioning of North Phnom Penh - Kampong Cham, Transmission Project Year of completion: Kampong Cham - 2011; North Phnom Penh - 2012; Transmission Line - 2013
KUALA LUMPUR: Pestech International Bhd
has made its maiden entry into the Philippine power infrastructure market by clinching a RM37.8mil contract from National Grid Corp of the Philippines (NGCP), which operates the country’s electricity transmission network.
In a filing with Bursa Malaysia on Wednesday, the electric power technology group said its unit Pestech Sdn Bhd had received a notice of award of contract (NAC) to upgrade the Philippine power grid’s secondary devices and to build a separate protection/control building for the unmanned substation operation of the Tiwi geothermal power plants A and C in Albay province.
The value of the contract is divided into a foreign currency portion of US$7.01mil (RM28.17mil) and local currency portion of 111 million pesos (RM9.6mil).
The contract in relation to the NAC will be executed within 10 days, and the project will start within 30 days after that, to be completed in about 14 months.
“The project is expected to contribute positively to the future earnings and net asset per share of the company for financial year ending June 30, 2017,” Pestech said.
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