Pestech bags RM216m Cambodia power project

PETALING JAYA: Integrated electric power technology company Pestech International Bhd has secured a US$60.6 million (RM216.4 million) contract for the design, build, testing and commissioning of the 230kV Kampong Cham Kratie transmission system project from Diamond Power Ltd (DPL).
Work on the project is to start on June 1, 2015 and completed by Nov 31, 2017.
"The project comprises design, manufacturing, factory acceptance testing, delivery and maintenance and warranty for a period of 18 months after commissioning for equipment and materials for the construction of the transmission line and substation," it said in a filing with Bursa Malaysia yesterday.
The company through its subsidiaries Pestech (Cambodia) Ltd and Enersol Co Ltd has entered into contract agreements with DPL, which is a 60%-owned subsidiary of Pestech in Cambodia that possesses rights of development of the project on a build-operate-transfer basis.
The company expects the contract to have no material effect on its revenue and earnings for the financial year ending June 31, 2015.
"Pestech does not foresee any exceptional risk other than the normal operational risk associated with the project. The company will take necessary steps to mitigate the risks as and when it occurs," it added.