Protasco wins extensions to federal govt, Perak road maintenance contracts

KAJANG: Protasco Bhd bagged an eight-year extension to its concession to maintain federal roads in central and eastern Peninsular Malaysia, which will run until 2026, and two other road maintenance concessions in Perak worth RM216.2 million in the first two years.
The federal roads concession contract sum was not disclosed.
Protasco said in an announcement to Bursa Malaysia that its subsidiary Roadcare (M) Sdn Bhd signed the concession extension agreement with the government today. The deal covers federal roads in Selangor, Pahang, Terengganu and Kelantan for a period of eight years from Feb 17, 2018 until Feb 16, 2026.
This eight-year period is the second part of a 10-year concession awarded in 2016. The initial two-year period expired in February 2018 and was extended in the interim for three months.
Another subsidiary, Empayar Indera Sdn Bhd, was awarded two concession extensions for routine and periodic maintenance works by the Perak government.
The first, covering state roads, is a five-year extension for an existing concession which expires in December 2019. This agreement for routine and periodic maintenance includes a two-year extension, which would mean the contract ends on Dec 31, 2026.The contract sum for the first two years is RM126.1 million.
The second concession is also a five-year extension for both routine and periodic maintenance works for agricultural roads in Perak, worth RM90.1 million in the first two years. Both contract sums are subject to review every two years during the contract period of five plus two years.
The contract is for five years from March 1, 2019 until Feb 28, 2024 with an extension of two years from March 1, 2024 until Feb 28, 2026.
“The award is an extension of the existing maintenance contract with the state government of Perak, which expires in February 2019,” it said.