KUALA LUMPUR (April 18): Rohas Tecnic Bhd said it has been awarded a RM65.65 million contract in Nepal.
In a filing on Monday (April 18), Rohas Tecnic said its subsidiary HG Power Transmission Sdn Bhd has been awarded a contract from the Nepal Energy Authority. It added that this is its subsidiary’s first successful award in Nepal.
The contract is funded by the Asian Development Bank and was secured in open international tender, Rohas Tecnic said.
The contract is for the design, supply, installation, testing and commissioning of 132 kilovolts (kV) transmission lines conductor upgrading (procurement of plant) of value US$14.56 million or 115.58 million Nepalese rupee, equivalent to approximately RM65.65 million, the filing noted.
The contract has a 2.5-year tenure and is expected to commence in the third quarter of 2022, according to the filing.
“The contract is expected to have a positive impact on Rohas Tecnic group’s results for the year ending Dec 31, 2022 and in the future,” it added.
At market close on Monday, Rohas Tecnic’s shares were unchanged at 26.5 sen apiece, valuing the industrial engineering group at RM125.3 million based on 472.66 million outstanding shares.
Source: TheEdge - 19 Apr 2022
