KUALA LUMPUR, Malaysia (July 8): WCT Holdings Bhd’s 60:40 joint venture (JV) with China Communications Construction Co (M) Sdn Bhd (CCCC) has accepted a tender bid for RM899.81 million to expand the Sapangar Bay Container Port in Kota Kinabalu. 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, according to a filing by WCT (SEDIA).
According to the corporation, the contract will begin in September 2021 and end in February 2025.
WCT said in a filing to Bursa Malaysia that the works include environmental 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’s shares fell 1.5 sen, or 2.86 percent, to 51 sen, valuing the company at RM723.26 million./n
