PETALING JAYA: MN Holdings Bhd
’s wholly owned subsidiary MN Utilities Engineering Sdn Bhd (MNUE) as part of a consortium together with South Korea’s LS Cable & System Ltd (LSC) and Pembinaan Tajri Sdn Bhd (PTSB), has been awarded a RM177.36mil submarine power cable system contract from Tenaga Nasional Bhd (TNB).
In a Bursa Malaysia filing yesterday, MN Holdings said that the parties, via a consortium arrangement, received the award of a contract for the upgrading of the 132kV submarine power cable system from the transmission main intake at Kuala Perlis to Teluk Apau from TNB, under an award letter dated Dec 22.
“The nature of the contract is to upgrade the 132kV submarine power cable system from Kuala Perlis to Teluk Apau with relevant protection, control, ancillary equipment and associated civil works.
“The details of the work include the supply, erection, testing and commissioning of new primary and 150kV Ampere, 132kV submarine cable at Kuala Perlis to Teluk Apau and connecting via overhead line to Teluk Ewa, complete with relevant protection, control, ancillary equipment and associated civil works,” MN Holdings said.
The company added that MNUE, LSC and PTSB shall enter into a comprehensive agreement to formalise the consortium arrangement, which shall be announced in due course, to undertake the planning, design, implementation, and execution of the contract.
In addition, the company said LSC shall act as the project leader among the parties, and the parties shall be jointly and severally responsible and liable for the contract, including the execution and completion of the work within the contract period.
“Under the consortium, the rights, benefits, obligations and responsibilities for the contract are shared with LSC holding 89%, MNUE 10%, and PTSB 1%, or such a percentage that is to be mutually agreed upon by the parties,” it added.
MN Holdings said the contract was effective from yesterday and would have a completion period of 450 days from the commencement date of the project. — Bernama
