KUALA LUMPUR: Asia Bioenergy Technologies Bhd (Asiabio) has secured a 30-month subcontracting work worth RM220 million from Tenisha Construction Sdn Bhd for subcontract works in Pengerang.
In a filing with Bursa Malaysia today, the group said its wholly-owned subsidiary Asiabio Petroleum Sdn Bhd received the letter of award (LOA) from Tenisha, and is expected to execute a Subcontract Agreement within one month from the date of the LOA.
Asiabio said the works to be carried out include the designing, erecting, inspecting, maintaining and dismantling of scaffolding and formwork systems on site in Pengerang, Johor.
In a separate statement, the group added that subsequent to this award, both companies will be exploring entering into various agreements to outline roles and responsibilities of each party.
It said there is a possibility of setting up a joint venture company to expand the repertoire of ancillary services such as blasting and painting services and minor fabrication works through an integrated yard.
Tenisha was incorporated on Dec 2, 2014, and is a Petronas-accredited service provider based in Johor that specializes in providing multi-disciplinary engineering and construction services in the oil & gas industry.
Tenisha commenced operations in the oil and gas industry in May 2016 and Asiabio said it has since been able to secure various work orders from PRPC Utilities and Facilities Sdn Bhd.
PRPC is the owner of the contract in relation to Petroliam Nasional Berhad’s (Petronas) proposed Refinery and Petrochemical Integrated Development (RAPID) complex in Pengerang, Johor, which is within the Pengerang Integrated Petroleum Complex (PIPC).