PETALING JAYA: Kumpulan Powernet Bhd has been awarded a contract for the design, supply, construction, commissioning and completion of an 8-megawatt (MW) small hydropower plant in Vientiane province of the Lao People’s Democratic Republic.
The contract was awarded by Zhenghong Building Road & Bridge Construction Co Ltd and is valued at US$15.88 million (RM65.88 million).
“The scope of work includes the construction, supervision, testing, commission, reliability test, remedy of defect during the defect liability period and provision of all equipment, both permanent works and temporary works in connection with the project.
“The company shall also be responsible to undertake the corresponding mobilisation and preliminary cost in relation to the works,” the group said in a Bursa filing.
The works are expected to be completed within 18 months from the commencement date.
Kumpulan Powernet also said its foray into the provision of construction related services from the fulfilment of the award will in future, result in a diversion of 25% or more of its net assets and/or will contribute 25% or more to its net profits.
