PETALING JAYA: Pestech International Bhd’s wholly-owned subsidiary company Pestech Sdn Bhd has been awarded a RM93.74 million contract from the National Grid Corporation of the Philippines (NGCP) for the Cebu-Bohol 230kV Interconnection project (substation portion).
The contract’s offshore portion is worth US$13.89 million (RM57.74 million) while the onshore portion is worth 439.90 million peso (RM36 million).
This is the third power infrastructure project awarded by NGCP to Pestech after the TIWi and Calamba projects.
Under the project, Pestech will deliver a new 230kV outdoor substation at Bohol as well as 138kV extension works at the existing substation at Bohol.
Pestech will provide design, engineering services, testing and commissioning as required for supply and delivery of equipment, civil works, foundations and building for the project.
NGCP has lined up an array of projects to improve the country’s transmission networks and is expected to continue investing in the electrical infrastructure backbone in order to support the robust growth of Philippines.
The duration of the project is 450 days and the commencement date of the project will be determined by NGCP later.
“The project will contribute positively towards the revenue and earnings of Pestech in accordance to the stage of project progress to be recognised in the financial years ending June 30, 2020 to June 30, 2021,” Pestech said.