KUALA LUMPUR: Gamuda Bhd has secured a RM4.3 billion contract for the Xizhi Donghu Mass Rapid Transit (MRT) in Taiwan, marking the group's seventh major infrastructure project there.
The New Taipei City Government's Department of Rapid Transit Systems awarded the project to an unincorporated joint venture between Gamuda, which holds a 75 per cent majority stake, along with two Taiwan-based companies namely MiTAC Information Technology Corp (15 per cent) and Dong Pi Co Ltd (10 per cent).
Gamuda's 75 stake in the JV is equivalent to RM3.2 billion share of the contract value.
The design and build project is estimated to be completed within seven years.
The scope of work entails 5.78km elevated viaducts and trackwork, six stations (above ground) as well as system works such as rolling stock, power supply, signalling, platform screen door, communication system, central monitoring system, auto fare collection system and depot maintenance equipment.
Gamuda said the joint venture is obligated to undertake, when instructed by the New Taipei City Government, an already determined additional works valued at RM10.8 billion.
This will comprise Xizhi Donghu line maintenance sepot and two extension lines' system and trackworks - the Keelung Line MRT and Minsheng Line MRT.
Gamuda's 75 per cent share of the additional works' contract value will be about RM8.1 billion.
These additional works, which would be separate contracts, are expected to be awarded before the end of the Xizhi Donghu MRT contract.
The total combined project value with the additional works would be about RM15.1 billion.
"This latest project is Gamuda's biggest win since we entered the Taiwanese market two decades ago. This win showcases the group's consistent ability to secure high-value projects in competitive international markets.
"It reflects our strong track record and the trust that Taiwanese authorities have placed in our expertise and delivery capabilities," it said in a statement.
At midday, Gamuda's share price rose 1.95 per cent or 16 sen to RM8.36 with a market capitalisation of RM23.58 billion.