KUALA LUMPUR: Kumpulan Powernet Bhd's (KPower) subsidiary KPower International (L) Ltd (KPIL) has bagged a US$46.2 million or RM192.67 million contract from Apex Makulu Hydro Power Pyt Ltd (Apex Makulu) in Nepal.
The contract is to undertake engineering, procurement, construction, commission and completion (EPCC) of a mini hydro power plant with a capacity of 22.0 MW in Solukhumbu, Nepal.
The scope of work includes the engineering, construction, supervision, testing, commission, reliability test, remedy of defect during the defect liability period and provision of all equipment, both permanent works and temporary works in connection with the project.
The target completion date for its project will be within 36 months from the commencement date or not later than 31 August 2023.
Managing director Mustakim Mat Nun said this contract is a good start to the company's new financial year 2021.
"We are fully committed to our expansion plan for our business to grow throughout the ASEAN region.
"This project will further consolidates our foothold in Nepal and establishes our company's presence in the areas where opportunities are in abundance.
"This project will also give us the earnings visibility for the next three years as it will contribute positively to the net assets, consolidated earnings and earnings per share of the company for the financial year ending 30 June 2021 to 2023," he said in a recent statement.
He said with this recent contract, KPower's order book will stand at roughly RM1.3 billion and the company is committed to lock in RM2 billion of order book for the financial year ending June 2021.