Muhibbah has via a consortium accepted the award from Petronas Carigali a subsidiary of Petroliam Nasional Berhad for the Provision of Engineering, Procurement, Construction, and Commissioning + Installation worth RM322 million.
The job is for a Light Weight Structure, Duyong Brownfield Modification, and Host Tie-In for Gansar Project, 190 KM from the Terengganu shore. The Contract is scheduled to commence immediately and is expected to be completed within twenty-two months from the commencement/effective date.
The group adds the contract is expected to contribute positively to the earnings and net assets of the group for the current and future financial years. The contract is also within the normal ordinary business scope of Muhibbah Group, so it is not expected to expose it to any new risks other than those through its existing businesses.
