Tuesday, September 6, 2011

Taliworks clinches RM339m dam sub-contract

KUALA LUMPUR: TALIWORKS CORPORATION BHD [] has been awarded a RM339.39 million sub-contract for the Mengkuang Dam expansion project.

It said on Tuesday, Sept 6 the sub-contract involved earthworks for CONSTRUCTION [] of dam, draw-off tunnel and others over a 60-month period. The completion date is July 31, 2016.

Taliworks said the Federal Government initiated dam expansion project was earlier awarded to China International Water and Electric Corp. (M) Sdn Bhd (CWEM) by the Energy, Green TECHNOLOGY [] and Water Ministry.

'The sub-contract is not expected to have any major financial impact for the financial year ending'' Dec 31, 2011 as the sub-contract will be in the early stages of mobilisation and planning but is expected to contribute positively to the future earnings of the group,' it said.

The Sub-contract is subject to normal construction risk of fluctuation of material cost and labour cost. However, this risk is mitigated through the provision of Variation of Price for Basic Materials and fuel in the Sub-contract.

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