Nestcon Infra has accepted the LOI to undertake the subcontract work for the Nenggiri Hydroelectric project from Euro Saga Sdn. Bhd for a total sum of RM91 million.
This is part of the earlier confirmation that Nestcon received on the appointment, the date of commencement of the subcontract Works was on 30 May 2022 and is expected to be completed by April 2026.
The acceptance of the LOA by Nestcon Infra is expected to contribute positively to the earnings and net assets of the Company throughout the duration of the Project and is not expected to have any and/or will not have any material effect on the gearing of the Company
