WCT scores 2nd contract from Vale

KUALA LUMPUR (June 8): WCT Bhd has secured a RM72.8 million contract for industrial civil works for Vale International's iron ore distribution hub in Teluk Rubiah, Perak.

In a filing with Bursa Malaysia on Thursday, WCT said the contract's scope of works includes piling, storm water pond civil works and drainage at Vale Malaysia's minerals Phase 1A project.

The property developer and construction firm said the civil works are expected to be completed in 18 months. "The contract will contribute positively to the group's earnings and net assets for the financial years 2012 and 2013," WCT said.

This is WCT's second construction award from the Brazilian mining giant in less than a year. On July 28 last year, WCT announced that it had obtained a RM115.09 million contract to conduct earthworks services at Vale Malaysia's manufacturing project Phase 1.

This story appeared in The Edge Financial Daily on June 8, 2012.