Econpile secures RM92.5 mil KVMRT job

KUALA LUMPUR (March 28): Econpile Holdings Bhd has been awarded a RM92.5 million subcontract to build the diaphragm wall for the Kampung Baru North Underground Station for Sungai Buloh-Serdang-Putrajaya line of the Klang Valley Mass Rapid Transit 2 (KVMRT2).

The construction and completion of the diaphragm wall is part of the works for the underground works package, encompassing the design, construction and completion of tunnels, stations and associated structures from Jalan Ipoh North Escape Shaft to Desa Waterpark South Portal, under KVMRT2.

The contract was awarded by Mujur Minat Sdn Bhd.

The project is expected to take approximately 450 days from date of commencement, which will be determined in due course, to complete, said the company.

"This RM92.5 million contract represents Econpile's first works to be done for a KVMRT underground station, and the second to be secured for KVMRT2 project," said Econpile group chief executive officer Raymond Pang.

"This contract recognises our expertise across the full range of services and underlines the group's role as a substructure specialist. We are pleased with the vote of confidence as we seek to move up the value chain by taking on technically challenging jobs to complement our core activities," added Pang.

Pang said the earlier-secured contract, worth RM43.5 million, was for piling works for the construction of viaduct guideway and other associated works.

Econpile shares closed down three sen or 1.38% at RM2.15, with a market capitalisation of RM1.16 billion. — theedgemarkets.com

For more stories, download TheEdgeProperty.com pullout here for free.