Kuala Lumpur, 16 March 2015 – Eversendai Corporation Berhad, a provider of specialist engineering and construction services has won 2 new contracts worth RM246 million through its subsidiary company in Saudi Arabia.
The first contract valued at RM203 million; awarded by the BACS Joint Venture comprising of Saudi Arabian Bechtel Company, Almabani General Contractors and Consolidated Contractors Company WLL, is to construct the East, North & South Depots of the Riyadh Metro project – Package 1 (Lines 1 and 2) for the Riyadh Development Authority.
The Riyadh Metro is a rapid transit system and is part of the Riyadh Public Transport Project (RPTP). The new metro system will fulfil the demands of the growing population and will also reduce traffic congestion and improve air quality. The scope of work undertaken by Eversendai includes connection design, supply, fabrication, erection of steel work, application of intumescent fire proofing; inclusive of complete envelope cladding works for roofing and walling, and is scheduled to be completed by October 2016. This steel work package is the first of the steel works package in this Riyadh Metro development and Eversendai is optimistic of securing more steel works packages in this USD22.5 billion mega project.
Eversendai has also secured the RM43 million contract for the connection design, supply, fabrication, erection of structural steel and complete envelope cladding works of roofing and walling for a conversion hangar in Riyadh. The hangar will be used for the servicing and maintenance of aircrafts.
Tan Sri A K Nathan, Executive Chairman and Group Managing Director of Eversendai, said, “We remain upbeat about our prospects in 2015. Since January this year we have already secured projects worth RM864 million. We have won structural steel works contracts for Nas Indoor Futsal and Volleyball Arena in Dubai, Reliance Convention Centre in India, PKT Logistics’ fourth generation warehouse dubbed the 12 Waves in Malaysia and the Al Wadha Arches and Visitors Centre in Qatar. We are looking forward to securing more projects throughout the rest of the year and we believe the Middle East will to continue to be our most productive region with the number of promising opportunities”.
He added, “Saudi Arabia is set to construct many mega projects as part of its infrastructure plan to extensively develop the nation. Simultaneously, Dubai’s successful bid to host the Expo 2020 will present us with many opportunities as they are expected to launch a number of mega projects as well in the next couple of years. We are also enthusiastic and hopeful about our prospects in Qatar with the country currently preparing itself to welcome a global audience for the World Cup in 2022. A host of infrastructure projects are scheduled to be announced including the construction of many new stadiums. We believe that our extensive experience and enviable reputation in the Middle East will place us as a frontrunner in securing a few of these contracts”.
Tan Sri A K Nathan concluded, “We remain committed to strengthening our position in the industry and necessary steps are being taken to ensure that we continue to have an edge over other players which would ultimately help bolster our efforts as we move towards growing our business regionally and globally. This includes the expansion of our fabrication facility in Sharjah to accommodate the number of contracts that we have already secured as well as those in the pipeline. We have gone to great lengths to build a capable and experienced team and we strive to maintain our standards while setting new standards to complement our strategies and initiatives to deliver value creation for all our clients and sustain attractive growth well into the future”.
In line with its tagline, ‘Towering – Powering – Energising – Innovating’, Eversendai is continuously looking at delving into new opportunities in inter-related industries whilst maintaining its commendable performance and track record.