KNM unit US$42m Pengerang contract
11 Sep 2015 / 05:36 H.
PETALING JAYA: KNM Group Bhd's indirect 70%-owned joint venture company CNI Engineering & Construction Malaysia Sdn Bhd has been awarded a US$42 million (RM183 million) erection work contract by Toyo Thai Malaysia Sdn Bhd.
In a filing with Bursa Malaysia yesterday, the group said the 25-month contract is to undertake erection work in relation to Petronas' Pengerang Integrated Complex Project.
The scope of supply and work of CNI includes the procurement of consumable materials and parts, construction works, inspection and test, and documentation as stated in the contract, which is scheduled to begin this month.
KNM expects the contract to contribute positively to its earnings for the financial years ending Dec 31, 2016, 2017 and 2018.