October 12, 2012

Gadang Holdings Secures RM312.8m Contract For Petronas Rapid Project

Gadang Holdings Bhd has received a letter of award for the provision of phase one site preparation work for the proposed refinery and petrochemical integrated development (RAPID) project-Package 1.

In a filing to Bursa Malaysia today, Gadang said the total estimated provisional price for the contract was
RM312.8 million.

It had then said the contract would start from the date of the letter of award issued last Thursday (Oct 4) and it was expected to be completed by Dec 31, 2013.

"The company does not foresee any exceptional risk other than the normal construction risk associated with the contract," it said.

Sources: Bernama News & The Star