Gamuda, IJM, MRCB, SunCon could bid for Penang International Airport's main terminal building under Package 3 in May, estimated at RM1.2b — CIMB

• It said the tender encompasses the construction of a new terminal and renovation works for the existing terminal building, inclusive of local infrastructure works, building services, and interior design enhancements.

KUALA LUMPUR (April 10): Bids for the Penang International Airport's (PIA) main terminal building under Package 3 are expected to open in May this year, ahead of its scheduled 2027 completion.

In a note on Thursday, CIMB Securities Sdn Bhd said the contract estimate for Package 3 may be worth up to RM1.2 billion, by far the largest package.

It said the tender encompasses the construction of a new terminal and renovation works for the existing terminal building, inclusive of local infrastructure works, building services, and interior design enhancements.

“We would not be surprised to see Gamuda Bhd (KL:GAMUDA) as a contender for Package 3, if bidding margins are not overly compressed. It has a proven track record in airport-related infrastructure works, having won a RM1.9 billion contract to build a significant section of the Hamad International Airport in Doha under an international consortium.

“Gamuda also holds a logistical edge over its rivals, as it is currently reclaiming land for the proposed Silicon Island on the southern tip of the PIA,” it added.

CIMB Securities said other possible contenders include IJM Corp Bhd (KL:IJM), Malaysian Resources Corporation Bhd (KL:MRCB), and Sunway Construction Group Bhd (KL:SUNCON).

“Gamuda, IJM and MRCB have previously expressed their interest in bidding,” it added.

Downstream, Ann Joo Resources Bhd’s (KL:ANNJOO) main steelmaking facility in Seberang Perai could put the group in a strong position to secure steel supply contracts, it said.

The PIA’s expansion is progressing smoothly, with construction work under the first two of three packages reportedly underway. The expansion is crucial to reinforce the PIA’s status as a key regional aviation hub.

Want to have a more personalised and easier house hunting experience? Get the EdgeProp Malaysia App now.