KUALA LUMPUR: Kumpulan Powernet Bhd (KPower) has bagged its first hydropower plant project worth RM65.88 mil in Laos.
The company said today it had accepted a letter of award from Zhenghong Building Road & Bridge Construction Co Ltd.
The project involves design, supply, construction, commissioning and completion of an eight megawatts small hydropower plant at Nam Samoy, Kasi District in Vientiane, Laos, and is scheduled to be completed within 18 months from the commencement date.
KPower group managing director Mustakim Mat Nun described the contract as significant as it is the company’s first hydropower construction project and marks the company’s official foothold in Laos.
“This is in line with our plans to expand into the provision of project management and construction-related activities in energy and utilities, infrastructure and logistics, with a focus to incorporate green technology and green energy element,” he added.
The company expects the contract to contribute positively to its net assets, consolidated earnings and earnings per share for the financial year ending June 30, 2020 and subsequent periods. – Fe 11, 2020, Bernama