Kumpulan Powernet Bhd has secured a RM66 million contract from Zhenghong Building Road & Bridge Construction Co Ltd.
Powernet will undertake among others, the design, supply, construction, commissioning and completion of an eight megawatts small hydropower plant at Nam Samoy, in Vientiane, Laos.
“The contract price is a fixed lump sum price of US$15.88 million (equivalent to RM65.88 million), which is inclusive of the supply and installation of mechanical and electrical equipment,” the company said in a statement today.
“The project is expected be completed within 18 months from the commencement date,” it added.
Zhenghong and Powernet will sign a definitive agreement within 30 business days from the date of the award or such other extended period as determined by the former.
“This is in line with our plans to expand into provision of project management and construction related activities in energy and utilities, infrastructure and logistic with a focus to incorporate green technology and green energy element,” Powernet group managing director Mustakim Mat Nun said.
“This is also significant as it also symbolises the company officially having its foothold in Laos,” he added.