KUMPULAN Powernet Bhd (KPower) has bagged a RM208.08 mil (US$48 mil) project from Ghaurishankar Power Development Pvt Ltd (GPD) for the design, supply, construction, commissioning and completion of a mini-hydropower plant with a capacity of 22.9 megawatts (MW) in Solukhumbhu, Nepal.
KPower managing director Mustakim Mat Nun said the scope of work includes engineering, construction, supervision, testing, commission, the remedy of defect during the defect liability period and provision of all equipment, both permanent works and temporary works in connection with the project.
He said GPD and KPower or any of its nominated subsidiaries shall enter into a definitive agreement within 60 business days from the date of the award or such other extended period as determined by GPD.
“We are pleased to be awarded this project with GPD as it symbolises a new milestone for our company as we are officially setting a foothold in Nepal for the first time.
“This is a result of our management team’s collaboration with a renowned European turbine manufacturer in seeking new opportunities for the development of hydropower plants in Nepal for the past two years,” he said in a statement today.
Mustakim said KPower is confident the project will contribute to the net assets, consolidated earnings and earnings per share of the company for the financial years ending June 30, 2021 to June 30, 2023.
“With this RM208.08 mil project, I am proud to say that the company has met its order book target of RM1 bil for 2020,” he added. — May 13, 2020, Bernama
