Tanco has received 2 letters of award for the ECRL Package S2-3 for its expertise in construction work, the job was awarded by Sri Medan Holdings which in turn received the contract from China Communications Construction, the main contractor for the railway.
The total provisional contract sum for both the LOAs amount to RM41.5 million whereby the provisional contract sum for the LOA for Contract 1 works totals RM36.8 million and the provisional contract sum for the LOA in respect for Contract 2 works total RM4.7 million. The contracts are for the tracks running from Besut, Terengganu.
Tanco which has been involved in mainly property development especially in resorts and leisure is venturing further into construction, is to seek alternate revenue sources. The group sees the awards as an opportunity to participate in the reactivation of the ECRL Project after the shutdowns and general slowdown due to the COVID-19 Pandemic.
