MALAYSIA, April 18, 2012 – Eversendai Corporation Berhad (the “Group”), a leading and well established integrated structural steel turnkey contractor, has been appointed as a major sub-contractor for the National Museum of Qatar (Package 2) Project worth QAR 160 million (approximately RM134 million).
The project was awarded to the Group’s subsidiary, Eversendai Engineering Qatar W.L.L, by the main contractor; Hyundai Engineering & Construction Co., Ltd with the scope of work which includes Design, Fabrication and Erection of Structural Steel. Earlier this year, the Group announced that it has secured Package 1 for this project amounting to approximately RM81 million.
The National Museum of Qatar design was inspired by the design of the Desert Rose, which will provide visitors a view of galleries addressing the natural history of the Qatar Peninsula, the social and cultural history of Qatar besides the history of Qatar as a nation from the 18th century to the present day.
Speaking on this matter, Dato’ AK Nathan, Group Managing Director of Eversendai, enthusiastically said, “We are delighted to further extend our involvement in this prestigious National Museum of Qatar project which is envisaged as a truly remarkable structure for the unique and innovative design.”
He also added “The fact that Eversendai has been approached by a reputable contractor like Hyundai Engineering & Construction Co., Ltd, especially very soon after securing Package 1 earlier this year, is a testament to our proven track record in delivering on iconic and complex structure projects with the highest quality, safety and within the stipulated timeline.”
“The Middle East has always been one of our prime focused regions and the construction industry in general in this part of the world continues to be vibrant. We have made a great start to the year and we have a strong growth visibility. We are very well positioned to achieve our business objectives and to continue to forge forward to greater heights in years to come.” he concluded.
Currently, we are also working on several other projects in Qatar, namely the Nakilat Shipyard, Doha Convention Centre and Tower (DCCT), Qatar Faculty of Islamic Studies (QFIS), New Doha International Airport (NDIA). At present, our factory in Qatar is running at near full capacity and likewise our factory in Dubai and Sharjah which are also busy with projects in their respective markets.
Work on this contract is expected to be completed in 2013 and will have a positive impact on the Group’s financial performance for FY2012 and FY2013.