KUALA LUMPUR (March 25): Eversendai Corporation Bhd (KL:SENDAI) said it has received a termination notice from NEOM Company for its Trojena Ski Village structural steel contract in Saudi Arabia, effective March 26, citing geopolitical developments in the Middle East.
The ambitious desert ski resort in the Al-Lawz mountains, part of Saudi Arabia's megaproject series Neom, had been earmarked to host the 2029 Asian Winter Games.
In the United Arab Emirates, Eversendai Offshore secured a project from Spain’s Dragados Offshore SAU to fabricate structural steel for offshore converter topside blocks for the LanWin2, BalWin3 and LanWin4 offshore grid connection projects in Germany.
The newly secured projects boost the group’s outstanding order book to RM6.
In a trading stocks note on Friday, the research house said the counter is seen moving sideways below the 64 sen resistance.
The outdoor Trojena Ski Village, which is being developed to host the Asian Winter Games in 2029, is part of a series of Saudi state-endorsed construction projects dubbed NEOM.
Last month, the company secured four contracts worth RM5.
“We are also constrained in making any single project announcement which jeopardises our position with our competitors and clients by disclosing the exact contract value for each individual project.
The construction group, whose shares have surged 68.
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