• Sunday , 23 June 2024

Eversendai Secures Contracts Worth RM 1.3 Billion in 2017

Kuala Lumpur, May 16, 2017  Eversendai Corporation Berhad, a Malaysian Steel Construction company with presence in 15 different countries, today announced that it has secured projects worth RM557.6 million to-date, bringing a total of RM1.3 billion projects secured for the year 2017.

Eversendai have been executing projects in India from 2009 and have gone through great details over the years in learning the intricacies in doing business in the sub-continent. This has culminated in a successful year for the Group here in 2016 with future projection looking very promising for making inroads and improving profits through capitalising on significant projects. “India continues to be a focal point for the Eversendai Group as the country continues to push construction as part of their rapid economic growth. We are continuously establishing ourselves as a niche steel contractor for highly complex land mark projects,” said Eversendai Corporation Berhad’s Executive Chairman and Group Managing Director, Tan Sri A K Nathan. “India has great opportunities for the Group to increase our presence and steadily position ourselves here in raking in multiple of infrastructure developments. Our corporate decision to spread our services in India has proven to be a right decision as we see a rise in the number of project winnings here recently,” he said.

One of the prominent projects secured in India for the year 2017 is a project with Piramal Realty, a real estate development arm of one of India’s leading business conglomerate, the Piramal Group. Eversendai was awarded the ultra-modern Piramal Revanta project, projected to be the next referral icon in the Mumbai Skyline. This was part of 5 other projects the Group secured in India which brings the accumaltive total of RM356.9 million. Other projects secured in India include a residential development, a start-up incubator complex for entrepreneurs and an office building project.

The remaining RM200.7million project wins, came from the Group’s strong hold in the Middle East which still continue to contribute significantly to the Group’s business. Some of the key projects that has been secured in the Middle East are a museum project, an office tower and a metro station.

“While the Oil and Gas segment recovers, Eversendai continues to win new projects progressively in most regions it is operating. The Group continues in keeping all 7 of our fabrication facilities busy and are confident in delivering significant number of projects for the year 2017, staying focused on our target to contribute significantly to the revenue and profitability for the Group,” Tan Sri AK Nathan concluded.