Salcon’s wholly owned subsidiary Salcon Engineering Berhad accepted the Letter of Award issued by Air Selangor Holdings through a Special Purpose Vehicle formed with Worldwide Holdings Berhad, AIS Small Hydro Sdn Bhd for a small hydro project.
Under the terms of the LOA, Salcon is to be the EPCC for the project which will require the engineering, procurement, construction & commissioning for the Development of a 10.44MW Small Hydro Powerplant Project at the Sungai Selangor Dam Under the Feed-In Tariff Mechanism.
The project is estimated to be worth RM64.9 million and is a construction contract with no option for renewal.
Salcon views the project to contribute positively towards the earnings and net assets for the financial years ending 31 December 2023 to 31 December 2025.
