PETALING JAYA: Magna Prima Bhd is collaborating with PowerChina Construction Group Ltd to bid for engineering, procurement and construction (EPC) works from Permodalan Nasional Bhd (PNB).
In filing with Bursa Malaysia, the company said it has entered into a memorandum of understanding (MoU) with PowerChina Construction to establish a consortium to collaborate and bid for the EPC contract.
The activities include all tasks required of the parties with respect to or in connection with the EPC contract for the project and including the negotiation of and entering into related arrangements, documentation and agreements with PNB.
Under the MoU, PowerChina Construction will be the lead member of the consortium in preparing the bid proposal for the EPC contract and provide funding for expenses incurred from the date of signing the MoU till the award of the EPC contract.
The budget will be mutually agreed between Magna Prima and PowerChina Construction.
PowerChina Construction will also appoint its member company, Sinohydro Corp (M) Sdn Bhd and local EPC contractor Magna Prima, to be members of the consortium. Sinohydro and Magna Prima will be appointed to execute and manage the EPC contract.
As the local EPC contractor, Magna Prima will coordinate with relevant local authorities and Sinohydro during the preparation of the bid proposal, provide the necessary technical and commercial documents related to the bidding, and facilitate the project’s compliance with local relevant regulations.
It will also appoint local subcontractors and suppliers to the consortium for the execution of the project.