PUNCAK Niaga Holdings Bhd has been awarded a contract valued at RM82.86 million to replace old water pipes in Johor.

In a filing today, the water concessionaire said its wholly-owned subsidiary, Puncak Niaga Construction Sdn Bhd (PNCSB), had today entered into a sub-contract agreement with Jalur Cahaya Sdn Bhd (JCSB).

PNCSB is appointed as the principal subcontractor of the project that covers districts in Johor Bahru, Kulai, Pontian, Kota Tinggi and Mersing.

Under the agreement, PNCSB will undertake the replacement of 84,535m of existing main pipes and existing communication pipes for 40,672 connections inside the 41 District Metered Area.

The group will also test and commission the new pipelines and communication pipes and interconnection works to the existing water supply distribution network.

The project commenced with retrospective effect from August 1, 2022, and will be completed on January 17, 2024.

Puncak Niaga slid half a sen or 2.27% to 21.5 sen today, with a market capitalisation of RM97 million. – TMR / pic TMR File