KUALA LUMPUR: NWP Holdings Bhd has secured a two-year contract worth RM36mil for a marine sand mining and transportation project in Melaka, in collaboration with Gezhouba Engineering (Malaysia) Sdn Bhd via its indirect subsidiary, NOOA Marine Sdn Bhd.
NWP, in a statement, said the project would involve NOOA Marine deploying a fleet of engineering vessels as required for mining tasks.
These vessels will enter the designated sea area to extract marine sand and transport it to the specified location directed by Gezhouba Engineering, where it will be discharged or unloaded from the barge.
Throughout the project management and implementation process, NOOA Marine will adhere to all management directives, arrangements, and instructions provided by Gezhouba Engineering.
NWP said the project's service period spans two years, with the specific commencement date to be determined by Gezhouba Engineering's notice.
The service period can be extended for an additional two years with mutual consent from both parties, three months before the initial two-year term expires. However, the total service period must not exceed four years.
The estimated value of the two-year contract is RM36mil, while the four-year contract is tentatively set at RM72mil. The contract operates on a fixed unit price basis, with the unit price encompassing all work and expenses related to project implementation.
“We are thrilled to embark on this significant marine sand mining and transportation project in collaboration with Gezhouba Engineering. This venture represents a remarkable milestone for our group and aligns with our strategic objectives to diversify our business and strengthen our position in the market,” non-executive chairman Datuk Tan Lik Houe said.
