WCE Holdings Bhd has bagged a contract worth RM301mil from IJMC-KEB joint venture – the engineering, procurement and construction contractor of the West Coast Expressway project – to build the last section of the highway.
In a filing with Bursa Malaysia, WCE said the construction involves 10km in length from the beginning of the Assam Jawa Interchange towards the Tanjung Karang Interchange.
“As per the concession agreement signed with the government of Malaysia dated Jan 2,2013 and the supplemental agreement dated Dec 11,2014, the procurement method for Section 7 is to be carried out by way of an open tender.
“However, in the interest of time and cost, the government has approved the procurement method of Section 7B to be implemented by way of a direct award to a wholly owned-subsidiary and construction arm of the company, KEB Builders Sdn Bhd.
“With this, all the construction packages for the entire alignment of the West Coast Expressway project have been fully awarded, ” it said.
The highway is expected to be completed in 30 months from the start of construction works.
Meanwhile, the highway construction company said IJM Corp Bhd and Lee Chun Fai have an interest in the award won from IJMC-KEB joint venture, in which IJM has an interest.
Besides that, it said none of its directors or major shareholders have any interest in the contract secured.
Moving forward, WCE expects the contract to contribute positively to the group’s future earnings.
The group does not foresee significant risks apart from the ordinary operational risks related to the construction of a highway.
Source: The Star
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