Sarawak Consolidated Industries Berhad has announced that the company and its wholly-owned subsidiary, SCIB International (Labuan) Ltd (“SILL”) accepted two Letter of Award and Acceptance (“LOA”) for engineering, procurement, construction and commissioning (“EPCC”) contracts valued at an estimate of RM821.32 million in Malaysia and Qatar.
SCIB accepted a LOA from Lestari Asiabina Sdn. Bhd., for an EPCC contract located in Kuching, Sarawak, Malaysia worth RM421.97 million for a proposed mixed development of Lot 6036 Block 26 Muara Tuang Land District and part of the River Bank reserve. The mixed development projects comprises of several premises which is categorized into Blocks and expected to be completed in 108 months.
The mixed development projects includes a total of eight (8) blocks, comprising od 20 storey office twin towers with 3-storey commercial podium, 3-4 storey shophouses, 12 storey service apartment, open green with pedestrian walkways, bicycles lance with green landscape, 10 to 15 condominium and 2 story clubhouse, 7-storey “Putera House” apartment, and a total of 48 meters of new Drain Deserve.
The works targeted to be completed in an approximate duration of 108 months which is divided into four stages of 27 months each.
Additionally, SILL accepted a LOA from Interceptor Trading & Contracting Co. W.L.L for an EPCC contract in Qatar worth approximately US$98 million, which equivalent to RM399.35 million to commence from February 2021 and end in July 2023.
The award involves aiding Qatar’s North Field expansion by providing the necessary manpower, Civil engineering expertise and also Mechanical, Electrical and Plumbing engineering (“MEP”) works.
Group Managing Director and Chief Executive Officer, Rosland bin Othman expressed, “The projects that we have secured gave us the momentum we needed to start the year in an optimum position. With an estimated total valuation of RM821.32 million, the projects will definitely strengthen our order book from RM1.4 billion to RM2.2 billion. We also believe that by securing the two projects will definitely contribute to making our financial year ending December 2021 to be promising, while also bring us closer to our internal target of 15% to 20% increase for both top and bottom line in the same financial year.
“The local project that we secured are in line with our aim to roll out more infrastructure developments that will benefit the Rakyat’s welfare and this year we hope to continue to acquire and expand on more local projects to contribute more to our fellow countryman. Furthermore, we are proud to be a part of Qatar’s North Field Expansion, which is expected to raise Qatar’s liquefied natural gas production capacity from 77 million tonnes per annum (Mtpa) to 110Mtpa by 2025 and 126Mtpa by 2027. This will enable us to show our global presence and showcase what we are capable of as well”. Rosland added.