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WZ Satu and partner land RM120m EPCIC job from Petronas Carigali

TheEdge Wed, Jul 01, 2020 09:03pm - 3 months ago

KUALA LUMPUR (July 1): A consortium led by WZ Satu Bhd has bagged a contract worth RM120 million for the provision of engineering, procurement, construction, installation and commissioning (EPCIC) from Petronas Carigali Sdn Bhd.

WZ Satu's wholly-owned WZS Misi Setia Sdn Bhd and its consortium partner UMD Energy Sdn Bhd accepted the letter of award today, the group said in a filing.

The EPCIC contract is for the PM 309 Gas Ledang Redev Segment 2 (Ledang S2) development project, it said.

The duration of the contract is 16 months and that it is targeted to be completed in October 2021.

“The contract is expected to contribute positively to future earnings and net assets per share of the company for the financial year ending Aug 31, 2021 (FY21) to Aug 31, 2022 (FY22),” it said.

Shares in WZ Satu closed 4.88% or one sen higher at 22 sen today, with a market capitalisation of RM110.01 million.

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