Samling-Ekovest JV to undertake RM2b Pan Borneo devt
Published on: Saturday, January 07, 2017
Kuala Lumpur: Ekovest Bhd's wholly-owned subsidiary, Ekovest Construction Sdn Bhd, has formed a joint-venture with Samling Resources Sdn Bhd to undertake a RM2.11 billion development and upgrading project for the Pan Borneo Highway. The project, the first phase of the highway, will see Samling Resources holding a 70 per cent equity interest in the JV company, Samling-Ekovest JV Sdn Bhd. The remaining shares would be held by Ekovest Construction."The JV represents an opportunity of both parties to co-operate and leverage on the strength and expertise of each other," said Ekovest in a filing to Bursa Malaysia Friday.ADVERTISEMENT Ekovest Construction has the experience, expertise and track record in providing technical expertise and procurement of construction materials and equipment to undertake the project.Stay up-to-date by following Daily Express’s Telegram channel.
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Meanwhile, Samling Resources has the experience and expertise in providing management in liaison with sub-contractors and the state government in Sabah and Sarawak.Ekovest said the JV also represented an opportunity for the company to participate in large scale construction projects in Sabah and Sarawak. – Bernama