KUALA LUMPUR (Oct 26): Sarawak Cable Bhd has bagged a contract to build two double circuit transmission lines from Tenaga Nasional Bhd, worth RM55.9 million.

Sarawak Cable told the stock exchange today that its unit Trenergy Infrastructure Sdn Bhd received a Letter of Acceptance yesterday from TNB for the above project.

Under the contract, Sarawak Cable will lay the proposed 500 kilovolt (kV) and the proposed 275kV double circuit transmission lines from Point Z to Point M (border of Pahang with Selangor).

"The project is expected to contribute positively to the earnings and net assets of the Sarawak Cable Group for the financial years ending Dec 31, 2017 (FY17) and FY18.

Sarawak Cable's shares closed unchanged at RM1.25 today, for a market value of RM393.14 million.