KUALA LUMPUR: Sunway Construction Bhd (SunCon) has announced several contracts in Malaysia and India 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 highway project will be operated under the hybrid annuity mode for a concession period of 15 years plus a two-year construction period. The construction for the project is anticipated to commence within 195 days from the letter of agreement. A concession agreement for the 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, by virtue of its 60% indirect stake in the consortium.
In a separate filing with the stock exchange, 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 and the second is from F&N Dairies Manufacturing Sdn Bhd for RM6.61mil in Pulau Indah, Selangor.
A third contract was issued by F&N Beverages Manufacturing Sdn Bhd for RM10.21mil in Shah Alam.
The 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.Including the new awards, the total new projects secured by SunCon this year amounted to RM2.32bil.
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