Gamuda-Naim, Mudajaya win Pan Borneo Highway deals worth RM2.9b

PETALING JAYA: Gamuda Bhd together with Naim Engineering Sdn Bhd yesterday accepted the award of a RM1.57 billion works package contract, for Pantu Junction to Batang Skrang in Sarawak, comprised in the Pan Borneo Highway Project from Lebuhraya Borneo Utara Sdn Bhd.
The works were awarded to Naim Engineering-Gamuda joint venture, an unincorporated joint venture comprising Naim (70%) and Gamuda (30%) based on a total works package contract period of 51 months. They will form a joint venture company to undertake the contract.
The contract is expected to contribute positively to the revenue and earnings of the Gamuda group for the financial year ending July 31, 2017.
Gamuda said it will make the necessary announcement as and when there is a material development in relation to the works.
Meanwhile, Mudajaya Group Bhd's wholly-owned subsidiary, Mudajaya Corp Bhd, yesterday accepted the award of a RM1.33 billion contract from Lebuhraya Borneo Utara to undertake the development and upgrading of the proposed Pan Borneo Highway.
In a filing with Bursa Malaysia, Mudajaya said the award is for phase one of the works package contract (from Sungai Kua Bridge to Sungai Arip Bridge in Sarawak).
The contract will be undertaken by Mudajaya together with Musyati Sdn Bhd under the name of Musyati-Mudajaya Corp Joint Venture on the basis of 70:30 shareholding. The contract is targeted to be completed by October 2020 with a construction period of 48 months from the date of site possession.
The deal is expected to contribute positively to the earnings of the Mudajaya group for the financial year ending 2016 onwards, the company said in its filing.