Sunway Construction announces new contract awards

KUALA LUMPUR: Sunway Construction Bhd (SunCon) has announced several contracts awarded to its subsidiary Sunway Engineering Sdn Bhd and its consortium Sunway Construction Sdn Bhd-RNS Infrastructure Ltd.

In a filing with Bursa Malaysia, SunCon said the joint venture between Sunway Construction Sdn Bhd and RNS Infrastructure was the recipient of a Rs553.83 Crore (RM315mil) award by the National Highways Authority of India.

In addition, the consortium has been awarded a 15-year operating and maintenance contract of Rs1.5 Crore per annum.

"The MC Project will be operated under the Hybrid Annuity Mode for a concession period of 15 years plus 2-year construction period.

"The construction for the MC Project is anticipated to commence within 195 days from the LOA. A Concession Agreement for the MC Project will be signed in due course," said the group.

The project is expected to contribute positively to the earnings of SunCon group from the financial year ending Dec 31, 2021, onwards by virtue of its 60% indirect stake in the consortium.

In a separate stock exchange filing, SunCon said Sunway Engineering has received three awards for the supply of SEDA quota for solar photovoltaic systems worth a combined sum of RM18.11mil.

The first is for the supply of SEDA quota for a solar photovoltaic system valued at RM1.29mil in Bentong, Pahang.

The second award is from F&N Dairies Manufacturing Sdn Bhd for a total sum of RM6.61mil in Pulau Indah, Selangor.

A third contract was issued by F&N Beverages Manufacturing Sdn Bhd for a total sum of RM10.21mil in Shah Alam.

All three projects are to be completed within 12 months of the start of the contracts. They are expected to contribute positively to the earnings of SunCon Group from the financial year ending Dec 31, 2021, onwards.

Including the new awards, the total new projects secured by SunCon this year amount to RM2.32bil.
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