Friday, May 13, 2011

Ireka unit gets RM109.75m contract to build hotel at KL Sentral

KUALA LUMPUR: IREKA CORPORATION BHD []'s wholly owned unit Ireka Engineering & CONSTRUCTION [] Sdn Bhd has been awarded a RM109.75 million to build a hotel at KL Sentral.

In a statement Friday, May 13, Ireka said its unit had received a letter of award from Excellent Bonanza Sdn Bhd for the contract to build the hotel at Lot G of KL Sentral.

It said the contract involved the construction of a 25-storey hotel tower, inclusive of architecture, structure, mechanical and engineering (M&E) works as well as all external works, with construction duration of 18 months.

Ireka group managing director Lai Siew Wah said this would be the third hotel in the company's construction portfolio, and that it was confident in drawing its experience from the previous two two projects to meet the requirements by international hotel brand.

Ireka constructed the Westin Kuala Lumpur and is currently building the Four Points by Sheraton '' at Sandakan, which is due for completion before the end of this year.

Lai said the company had secured three projects totaling RM370 million over the last few months.

'With the increasing growth momentum in the construction sector, Ireka is hopeful that we will continue to secure more jobs in the coming months,' said Lai.

Among the projects currently under Ireka's belt are the construction of a high-end condominium project, SENI Mont' Kiara, a retail mall and Four Points by Sheraton '' in Sandakan, two office towers at KL Sentral and the Kulai-Second Link Expressway Interchange.

In February this year, its Vietnam-based subsidiary, Ireka Engineering and Construction Vietnam Company Limited, had secured a contract for the structural works package of a general hospital at the International Hi-Tech Healthcare Park in Binh Tan District, Ho Chi Minh City, Vietnam.

Lai said that with the latest job, Ireka's order book now stands at about RM1.14 billion, of which approximately RM513.5 million remain outstanding as at end March 2011.

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