Econpile clinches RM280 mil piling contract for Sungai Besi project

KUALA LUMPUR (Oct 4): Econpile Holdings Bhd has clinched a RM280 million contract to undertake piling and basement works for Maju Kuala Lumpur, a mixed development project situated in Sungai Besi.

In a statement posted on Bursa Malaysia today, the piling and foundation specialist said it won the contract via its unit Econpile (M) Sdn Bhd from ASM Development (KL) Sdn Bhd, a subsidiary of Maju Holdings Sdn Bhd.

Under the contract, Econpile is tasked to undertake diaphragm wall, contiguous bored pile, earthworks, piling works and basement structure works of a mixed development comprising serviced apartments, retail units and car park, which is to be completed within 15 months.

According to Econpile, the mixed development project will comprise seven 58-storey towers consisting of loft apartments integrated with a host of retail and leisure amenities.

Shares in Econpile closed up seven sen or 4.14% at RM1.76, valuing the company at RM936.25 million.

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