IJM Corp unit lands RM349.98m Batu Kawan Expressway job

KUALA LUMPUR: IJM Corporation Bhd on Tuesday, June 15, was awarded a RM349.98 million contract to build a second Penang bridge. 

In a filing to Bursa Malaysia today, the construction firm said its unit IJM Construction Sdn Bhd had on the same day received the letter of acceptance dated June 14, 2010 from Jambatan Kedua Sdn Bhd (JKSB) for the award of the project titled “The Second Penang Bridge - Package 3B: Batu Kawan Expressway”.

The project involves the construction of a new dual two-lane carriageway of approximately 5.7 km in length, with a cloverleaf interchange and four bridges. The construction period is 31 months from the date of site possession on June 28, 2010.

JKSB is wholly owned by the Minister of Finance, Incorporated.

Meanwhile, IJM Corp's property arm IJM Land Bhd announced that its unit IJM Properties Sdn Bhd had entered into a termination agreement with Angkasa Gagah Sdn Bhd to mutually terminate the joint-venture agreement dated October 19, 2006.

The agreement concerned the proposed residential development on three parcels of land, all situated at the Mukim of Setapak, Selangor. The agreement was subject to the condition of obtaining regulatory approval for the development.

Angkasa Gagah is a wholly owned subsidiary of IGB Corporation Bhd.