Artist's impression of the PingZhen underground commuter station
KUALA LUMPUR: Gamuda Bhd
together with Asia World Engineering & Construction Co (AWEC) has secured a RM2.13bil underground railway project in Taiwan.
In a filing with Bursa Malaysia, the construction group said the contract was for the construction and completion of TaoYuan City underground railway project package CJ18 PingZhen Commuter Station at Taiwan by the Taiwan Ministry of Transportation and Communications’ Railway Bureau, a Taiwan state-owned railway company.
The project, which has a duration of 96 months, was awarded to Gamuda and AWEC and will be undertaken by an unincorporated 60:40 joint venture comprising Gamuda and AWEC respectively.
The expected revenue to Gamuda from the project is about RM1.28bil, Gamuda said.
The project includes the construction of a 3.734 km underground twin bound railway track with an underground commuter station at PingZhen which is located beneath the existing train station.
The new underground alignment will optimise and promote efficient use of land in PingZhen District.
Gamuda said the main risk for the project will be the current tight labour market situation.
“The project is expected to contribute positively to the revenue and earnings of Gamuda group for the financial year ending July 31, 2023,” it added.
