A CONSORTIUM led by Muhibbah Engineering (M) Bhd has accepted a contract with RM322 million from Petronas Carigali Sdn Bhd (PCSB), a subsidiary of Petroliam Nasional Bhd.
In a stock exchange filing today, Muhibbah said the contract for the provision of engineering, procurement, construction and commissioning plus installation (EPCC+I) of lightweight structure, Duyong Brownfield Modification and Host Tie-In for Gansar project, 190km from Terengganu shore.
The contract is scheduled to start immediately and be completed within 22 months.
“The contract is expected to contribute positively to the earnings and net assets of the Muhibbah Group for the current and future financial years,” Muhibbah said.
Muhibbah shares slipped 2.5 sen, or 5.21%, to close at 45.5 sen today. Its market capitalisation stood at RM331 million. – TMR / graphic TMR