Zecon-Kimlun JV wins RM1.46b Pan Borneo Highway job

PETALING JAYA: A joint venture (JV) between Kimlun Corp Bhd and Zecon Bhd has bagged a RM1.46 billion contract to build and upgrade a part of the Pan Borneo Highway in Sarawak.
In a stock exchange filing yesterday, Zecon said the JV received the letter of award for the project, under phase one, from the Serian roundabout to Pantu Junction. The contract, awarded by Lebuhraya Borneo Utara Sdn Bhd, is over a 48-month period and work is expected to be completed in March 2020.
Zecon holds a 70% stake in the JV and Kimlun's wholly owned subsidiary, Kimlun Sdn Bhd, holds the rest.
"A joint venture company will be incorporated in due course to undertake the contract as part of the condition imposed in the tender for the contract," Zecon said.
Zecon and Kimlun said the project is expected to contribute positively to their earnings during the tenure of the contract.