MN Holdings unit bags RM122.3mil TNB contract
KUALA LUMPUR: MN Holdings Bhd’s unit MN Utilities Engineering Sdn Bhd, in a joint venture with Pembinaan Tajri Sdn Bhd, has secured a RM122.3 million contract from Tenaga Nasional Bhd (TNB) to install a new 132-kilovolt (kV) underground cable system in Penang.
KUALA LUMPUR: MN Holdings subsidiary MN Utilities Engineering Bhd, in partnership with Pembinaan Tajri Bhd, has won a RM122.3 million contract from Tenaga Nasional Bhd to install a new 132-kilovolt underground cable system in Penang. The joint venture was awarded the contract on August 10, according to a filing with Bursa Malaysia.
MN Utilities, primarily focused on underground utilities and substation engineering, holds an 80% share in the venture, while Pembinaan Tajri, which works on long-distance pipelines, communication, and power line projects, holds the remaining 20%. The project involves constructing a double-circuit 132kV underground cable system, rated at 180 megavolt-amperes, to connect the Tasek Gelugor transmission main intake to PMU Bertam.
The scope includes engineering, design, supply, erection, permit acquisition, surface and structure reinstatement, and area cleaning. Pembinaan Tajri will serve as the project leader, with both companies jointly and individually responsible for executing and completing the works. The contract starts on August 10 and is set to be completed within 450 days.
MN Holdings' share price rose 2.97%, closing at RM3.12 with a market capitalization of RM2.08 billion.
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