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KUALA LUMPUR (July 8): WCT Holdings Bhd’s 60:40 joint venture (JV) with China Communications Construction Co (M) Sdn Bhd (CCCC) has accepted the tender offer as the main contractor for the expansion of the Sapangar Bay Container Port in Kota Kinabalu for RM899.81 million.
In a filing today, WCT said the WCT-CCCC JV has today executed a letter of acceptance dated July 2, 2021 issued by the Malaysian government as represented by the Sabah Economic Development and Investment Authority (SEDIA).
The contract is expected to commence in September 2021, and to complete in February 2025, the company said.
The works include: environment protection and enhancement, traffic management control, site investigation works, demolition and site clearance, dredging and reclamation works, seawall construction, quay deck, container yard, building works, external works and mechanical and electrical services, WCT said in its filing to Bursa Malaysia.
Shares of WCT closed 1.5 sen or 2.86% lower at 51 sen, valuing the group at RM723.26 million.
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