Pestech awarded substation job in the Philippines

KUALA LUMPUR, Dec 12 — Pestech International Bhd’s wholly-owned subsidiary, Pestech Sdn Bhd (PSB) has received a notice of award of a contract from the National Grid Corporation of the Philippines (NGCP) for the Cebu-Bohol 230kV Interconnection Project.

In a filing with Bursa Malaysia today, Pestech said the offshore portion was worth US$13.886 million, while onshore portion was valued at Philippine Peso 439.9 million (100 Philippine Peso=RM8.21).

Under the project, Pestech would deliver a new 230kV outdoor substation at Bohol, as well as 138kV extension works at the existing substation in Bohol.

Pestech shall provide design, engineering services, testing and commissioning as required for the supply and delivery of equipment, civil works, foundations, and building for the project.

NGCP has lined up an array of projects to improve the country’s transmission networks and is expected to continue investing in the electrical infrastructure backbone in order to support the Philippines robust growth.

The duration of the project is 450 days and the commencement date would be determined by NGCP later.

The project would contribute positively towards the revenue and earnings of Pestech in accordance to the stage of project progress to be recognised in the financial years ending June 30, 2020 to June 30, 2021.

This is the third power infrastructure project awarded by NGCP to Pestech after the TIWi and Calamba projects.

The company said the award of contract signifies its capability and competency in delivering its works and has garnered the confidence of its client.

Source: BERNAMA (News Agency)