Ekovest clinches new RM255mil River of Life contract

River of life: Masjid Jamek stands proudly at the confluence of Sungai Klang and Sungai Gombak. Its surrounding boasting heritage significance will be turned into heritage trails as part of the River of Life effort.

KUALA LUMPUR: Ekovest Bhd, which in April took full control of the project delivery partner of the RM4.4bil River of Life (RoL) project in Kuala Lumpur, has been awarded its first new RoL jobs since the takeover, worth RM255.5mil.

In a filing with Bursa Malaysia on Monday, the construction firm said its unit EkoRiver Construction Sdn Bhd (formerly Ekovest-MRCB Construction Sdn Bhd) had clinched two new packages, along with the contract to build an interceptor system, under the RM4.4bil project to improve and beautify the Klang and Gombak rivers.

EkoRiver Construction received a letter of acceptance from Kuala Lumpur City Hall on Monday for Package 4A (Sungai Klang vicinity from Jalan Kinabalu to Jalan Maarof) and Package 4B (Brickfields, including Jalan Scott, Jalan Tun Sambanthan 4, Jalan Thambipillay, Jalan Sultan Abdul Samad, and Jalan Tebing).

In addition, it is to construct an interceptor system and related works to improve the river water quality, including the water treatment system along the Sungai Gombak and Sungai Klang.

This is the first new RoL award since Ekovest gained total control of two companies -- the project coordinator of the RoL project and the civil engineering arm for it (i.e. EkoRiver Construction) -- in April by buying the balance 40% interest from Malaysian Fesources Corp Bhd for RM8.5mil.

Ekovest said the works, expected to take 2½ years to complete, would contribute positively to the future revenue and earnings of Ekovest Bhd and its subsidiaries.