Bina Puri clinches RM94.5m Pengerang contract

PETALING JAYA: Bina Puri Holdings Bhd has clinched a contract worth RM94.94 million for civil works in a steam cracker complex within Petroliam Nasional Bhd's (Petronas) RM60 billion Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, Johor.
The contract is scheduled to begin in January 2016 and is expected to be completed in 27 months.
In a statement released yesterday, the group said its subsidiary Bina Puri Sdn Bhd has accepted a letter of award from Toyo Engineering & Construction Sdn Bhd on Aug 12, 2015 for the civil construction works.
Bina Puri said the works include earthwork, foundation for equipment, fire proofing, installation for PC rack and road, floor (including chemical floor) and paving in area B of the complex.
The on-going Rapid, which will have the refining capability of 300,000 barrel per stream day, is part of the larger multi-billion Pengerang Integrated Petroleum Complex in Johor
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Group executive director Matthew Tee said the contract marked the group's first successful tender to undertake a sizeable construction project in civil works for an oil and gas complex.
"The group is still actively tendering for various projects, both locally and overseas and it hopes to secure more new projects before year end," he added
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With the latest contract, Bina Puri's unbuilt book order stands at RM2.72 billion as at to date. The group has managed to secure RM933 million worth of projects this year.

The group said it expects the project to contribute positively to its net asset and earnings for the financial year ending Dec 31, 2016.
Earlier this year, Bina Puri Properties Sdn Bhd signed a joint development agreement with LakeHill Resort Development Sdn Bhd, a subsidiary of Malaysia Pacific Corp Bhd, to build 412 units of double-story terrace houses with a gross development value of RM204 million in Johor.
The group's business activities include investment holdings, civil and building engineering management, property development, highway concession, quarry operations, manufacturing of construction materials.