REI clinches Electricite du Lao contract worth US$70 million

REI clinches Electricite du Lao contract worth US$70 million

Rohas-Euco Industries Bhd (REI), a subsidiary of Rohas Tecnic Bhd (RTB), has been awarded a contract to supply and construct transmission lines, substations and distribution lines in Laos.

The contract by Electricite du Lao is valued at US$70 million (RM300 million).

“Works will commence in the second half of this year with a period of 24 months to completion,” said the company in a statement.

The project will not have any material impact on RTB’s gearing and is expected to contribute positively to the Group’s profitability in the year ending 2017.

“This will be our second EPCC project in Laos after completing the first one in 2014.

“The track record earned in the previous project, with timely execution and good work quality, provided the confidence in Lao authorities to grant us another one”, said Leong Wai Yuan, CEO of REI.

REI is Malaysia’s largest producer of lattice and monopole towers.

The company also engages in engineering, procurement and construction projects in the power, telecommunications and water sectors.

REI was acquired by RTB via a reverse takeover in March 2017.

Source: https://www.nst.com.my/business/2017/05/239579/rei-clinches-electricite-du-lao-contract-worth-us70-million