Salcon unit clinches RM77.1 million water system upgrade contract in Vietnam
18 Dec 2017 / 20:23 H.
PETALING JAYA: Salcon Bhd’s unincorporated joint venture Bach Dang-Salcon has received a water supply system upgrade project in Vietnam for 426 billion dong (RM77.1 million).
The group said in a filing with the stock exchange it had received the letter of acceptance dated Dec 14 issued by Haiphong Water Joint Stock Company, the water authority of Haiphong City, Vietnam. It involves the rehabilitation and upgrade of the second phase of the Haiphong water supply system.
Salcon has a 25% stake in the JV, and Bach Dang the remaining 75%.
Work will begin on Jan 5, 2018 and be completed within 24 months.
It is expected to contribute positively to Salcon’s earnings and net assets for its financial years ending Dec 31, 2018 to Dec 31, 2020.