Malaysia’s PECD secures contract in Sudan

Oct 12, 2005 02:00 AM

Malaysian PECD, through its wholly owned subsidiary, Peremba Construction, has received a Letter of Award worth $ 68.5 mm (about RM 255.6 mm) for the construction of the new Greater Nile Petroleum Operating Company’s (GNPOC) head office.
PECD, which is listed on the Main Board of Bursa Malaysia, is involved in Construction, Development and EPCC (Engineering, Procurement, Construction and Commission).

Commenting on the award, Ramli Ahmad, PECD’s group managing director, said the award is yet another testament of the company’s commitment to increase shareholder value through strategic moves aimed at providing sustainable growth.
"PECD has been making inroads abroad through its aggressive international expansion efforts as evidenced by the progress made by the group’s construction and EPCC divisions," he added.

Ramli said this recent addition to the portfolio of projects already undertaken by PECD is an indication to the group’s growing reputation abroad as a trusted and reliable partnerto deliver quality landmark signature projects.
GNPOC was incorporated in 1997 to operate as a petroleum company in Sudan. GNPOC is a joint operating company owned by China National Petroleum Company (40 %), Petronas (30 %), ONGC of India (25 %) and Sudapet of Sudan (5.0 %). Currently GNPOC produces more than 300,000 barrels of oil per day.

The project marks PECD’s second venture into Sudan. In 2004, Peremba Construction was awarded a $ 232 mm (RM 882 mm) contract to construct marine export terminal facilities, with a three mm barrel capacity, for the Melut Basin Oil Development Project.
"We are very upbeat about the group’s future growth in the construction, property and oil and gas sectors as we continue to witness results from our diversification efforts in various regions especially in West Asia," said Ramli. PECD’s unbilled total construction order book to date stands at RM 1.6 bn with 60 % accounting for the group’s overseas operations.

Source: Bernama
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