Varia bags RM555mil sewage project

PETALING JAYA: Varia Bhd’s wholly-owned subsidiary Teguh Maju Sdn Bhd has secured a contract from Best Metro Builder Sdn Bhd for the supply of labour, materials and equipment for the upgrading works of the sewage treatment plant in Mak Mandin and constructing a sewerage pipeline in the Butterworth North catchment area in Pulau Pinang.

In a filing with Bursa Malaysia, the group said the contract value was RM555mil.

The contract will commence on June 25, 2024, or individual site possession kick-off date, whichever is later, for a period of 57 months to March 24, 2029.

It said the contract is expected to contribute positively to the earnings of Varia Group for the relevant financial periods within the duration of the contract.