Minetech Resources rise 5% on new solar plant contract

PETALING JAYA: Minetech Resources Bhd's share price rose half a sen or 5% this morning, after it bagged a contract to develop a large-scale solar photovoltaic plant in Manjung, Perak.
At 11.13am, the stock stood at 10.5 sen with 429,200 shares changing hands.
Yesterday, the group said its 70%-owned unit Coral Power Sdn Bhd has accepted the letter of award from the Energy Commission at the offer price of 37.5 sen per kWh for a period of 21 years.
The contract is expected to contribute positively to the group's earnings and net assets after 2020.