Pestech unit secured Philippine electrical substation upgrading contract

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KUALA LUMPUR: Pestech International Bhd’s wholly-owned subsidiary PESTECH Sdn Bhd has bagged a contract from the Nationwide Grid Company of the Philippines (NGCP) for the South Luzon Substations Upgrading Venture 2.

In submitting with Bursa Malaysia right now, the development engineering firm mentioned the entire contract worth was US$23.46 million (US$1= RM4.19) for the offshore portion and 710.76 million Philippine pesos for the onshore portion (1 Philippine peso = RM0.083).

The undertaking goals to cater to the load development and supply contingency to varied substations for NGCP within the South Luzon area.

“This includes capability additions, substitute of previous and out of date substation tools and reconfiguration of the present substations to make sure reliability and adaptability of {the electrical} community for attaining sustainable development of NGCP’s energy community.

“Beneath the undertaking, PESTECH shall have full duty to design and construct based on the necessities of the contract,” it mentioned.

PESTECH mentioned the undertaking includes seven substation parts which can be unbiased of one another.

The graduation date of the undertaking will likely be decided by NGCP later.

The undertaking will contribute positively in direction of the income and earnings of PESTECH in accordance with the stage of undertaking progress to be recognised within the monetary years ending June 30, 2022 to June 30, 2023. – Bernama



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