WSC Clinches Construction Deal In Kazakhstan
Wah Seong Corp Bhd’s indirect subsidiary PT Wasco Engineering Indonesia has been awarded a contract by France-incorporated Siemens SAS for the design and build up of three substations including heating, ventilation and air conditioning for a project in Kazakhstan with a contract value of US$24.22 million (RM103.64 million).
It said in a filing with the stock exchange that the scope of work of the contract involves 3D modelling, structural analysis and design, blast wall design and design of all ancillary system such as lighting, safety, fire and gas detection.
It also includes the provision of all necessary manufacturing drawings and full procurement of all items within its design scope and subsequently the responsibility for all aspects of the construction phase including installation and integration of all the free issue equipment.
Wah Seong said the activity is expected to commence in the third quarter of 2017 and be completed by October 30, 2018.
“The contract is expected to contribute positively to the earnings of Wah Seong Group over the contract period. The contract is project specific and is not renewable,” it noted.
At 12.30pm, Wah Seong’s share price rose 1.5 sen to 96.5 sen on some 886,600 shares done, bringing it a market capitalisation of RM747.77 million.