Malaysia’s Kumpulan Powernet Bhd gets RM174mil mini-hydropower job in Laos

Construction News

Malaysia’s Kumpulan Powernet Bhd gets RM174mil mini-hydropower job in Laos

Kumpulan Powernet Bhd has secured a second renewable energy project in Laos, as the group seeks to double its orderbook to RM2bil within the next one year.

The company told Bursa Malaysia today that it was awarded a US$40.7mil (RM174.5mil) contract by Zhenghong Building Road & Bridge Construction Co Ltd to build two hydropower energy facilities in Houaphan province.

“The latest award has strengthened our presence in Laos,” managing director Mustakim Mat Nun said.

The latest contract is for the supply, construction, commissioning and completion of the civil work for the development of 3×5 megawatt (MW) Nam Taep 1 and 3x5MW Nam Taep 2 hydropower energy generating facilities.

KPowernet, in February, announced it was awarded a RM66mil job, also by Zhenghong, to a build a mini hydropower facility in Laos.

“We are targeting to increase our order book to RM2bil by June 30, 2021,” he said.

Last month, the company won a RM208mil contract to build a mini hydropower plant in Nepal that lifted its order book to RM1bil.

Source: https://www.thestar.com.my/business/business-news/2020/06/29/kpowernet-gets-rm174mil-mini-hydropower-job-in-laos