Citaglobal Secures KVDT 2 Project Amounting RM261 Million

Citaglobal Bhd owned subsidiary has announced the acceptance of a Letter of Award for works on the Klang Valley Electrified Double Track Phase 2 (KVDT 2) project amounting to RM261mil, from Dhaya Maju Infrastructure (Asia) Sdn Bhd (DMIA).

The scope of works includes the supply, delivery, construction, successful completion, and maintenance of bridges, culverts, drainage and fencing works which forms part of the KVDT 2 project.

This contract is to commence on June 1, 2023 and will be completed within 36 months from the commencement date.

With this latest LOA, the company’s order book swells to approximately RM1.0bil, Citaglobal views the award to contribute positively to the earnings, earnings per share, and net assets of the group during the contract period.

“We are very grateful to have won this contract and play a role in the construction of KVDT 2. We will get down to business and look to complete the project within the stipulated timeline. This contract also marks Citaglobal’s orderbook approaching the RM1bil mark, which further strengthens the earnings visibility of the company,” said Citaglobal Executive Chairman & President and major shareholder Tan Sri Dato’ Sri (Dr.) Mohamad Norza Zakaria.

The Klang Valley Electrified Double Track Phase 2 project is a rail rehabilitation venture that covers 265km of the electrified double-track network in the Klang Valley, Malaysia.

KVDT 2 covers the stretch from Salak South to Seremban, and from Simpang Port Klang to Port Klang.

DMIA is the main contractor for the KVDT and is currently running the KVDT 2 project with a joint venture of Dhaya Maju LTAT Sdn Bhd.

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