KUALA LUMPUR: Citaglobal Bhd, via its wholly owned subsidiary Citaglobal Engineering Services Sdn Bhd, has accepted a letter of award for works on the Klang Valley Electrified Double Track Phase 2 (KVDT 2) project amounting to RM261 million from Dhaya Maju Infrastructure (Asia) Sdn Bhd (DMIA).
The company said its scope of works for the contract includes the supply, delivery, construction, successful completion and maintenance of bridges, culverts, drainage and fencing works which form part of the KVDT 2 project.
The contract will commence on June 1 this year and will be completed within 36 months from the commencement date.
Citaglobal executive chairman and president Tan Sri Dr Mohamad Norza Zakaria said the company should complete the project within the stipulated timeline.
"We are very grateful to have won this contract and played a role in constructing KVDT 2.
"This contract also marks Citaglobal's orderbook approaching the RM1 billion mark, which further strengthens the company's earnings visibility," he said in a statement today.
He also said this contract is expected to contribute positively to the company's earnings per share and net assets during the contract period.
The KVDT 2 project is a rail rehabilitation venture that covers 265km of the electrified double-track network in the Klang Valley.
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.