Malaysian firm bags RM208.08m project in Nepal
Published on: Thursday, May 14, 2020
By: Bernama
.jpg "Malaysian firm bags RM208.08m project in Nepal")
Bernama pic
Kuala Lumpur: Kumpulan Powernet Bhd (KPower) has bagged a RM208.08 milion (USD48 million) project from Ghaurishankar Power Development Pvt.Ltd (GPD) to the design, supply, construction, commissioning and completion of a mini-hydropower plant with a capacity of 22.9 megawatts (MW) in Solukhumbhu in Nepal.KPower Managing Director Mustakim Mat Nun said the scope of work includes engineering, construction, supervision, testing, commission, the remedy of defect during the defect liability period and provision of all equipment, both permanent works and temporary works in connection with the project.
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He said GPD and KPower or any of its nominated subsidiary shall enter into a definitive agreement within sixty (60) business days from the date of the award or such other extended period as determined by GPD.
“We are pleased to be awarded this project with GPD as it symbolizes a new milestone for our company as we are officially setting a foothold in Nepal for the first time.
“This is a result from our management team’s collaboration with a renowned European turbine manufacturer in seeking new opportunities for the development of hydropower plant in Nepal for the past two years,” he said in a statement on Wednesday.
He said, once the definitive agreement is officially signed, KPower is confident the project will contribute to the net assets, consolidated earnings and earnings per share of the company for the financial year ending June 30, 2021 to June 30, 2023.
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