KUALA LUMPUR, Dec 8 — Pestech International Bhd’s wholly-owned subsidiary Pestech Sdn Bhd (PSB) has bagged a RM104.23 million contract for a 138kV transmission line project in the Philippines.
In a filing with Bursa Malaysia, Pestech said the contract, awarded by the National Grid Corporation of the Philippines (NGCP), is divided into two parts, namely an offshore portion worth US$15.56 million (RM63.1 million) and an onshore portion worth 483.31 million Philippine peso (RM40.87 million).
“Under the project, the company will be designing, supplying, installing, testing and commissioning a new Boracay substation and the expansion of the existing Nabas substation. The project primarily aims to accommodate the projected load growth of Caticlan and Boracay Island.
“The expansion of Nabas substation includes the addition of two bays consisting of four new power circuit breakers from the existing 138kV, breaker-and-a-half configuration switchyard. This expansion will accommodate the new 138kV transmission lines coming from the new Boracay substation,” it said.
The commencement date of the project would be determined by NGCP later and would be completed within 420 days from commencement date for each Nabas and Boracay station.
The company expects the project to contribute positively towards the group’s revenue and earnings in accordance with the stage of the project’s progress to be recognised in the financial years ending June 30, 2021 to June 30, 2022. — Bernama
