Varia unit bags RM334.69mil contract for Johor River flood mitigation project

KUALA LUMPUR: Varia Bhd's wholly-owned subsidiary Pembinaan Teguh Sdn Bhd has secured a contract from Ikatan Harmoni Sdn Bhd for Phase 1, Package 1 of the Johor River flood mitigation project in Kota Tinggi, Johor.

In a filing with Bursa Malaysia, the group said the contract, valued at RM334.69mil, involves the construction of the flood reservoir pool and related works.

It said the project will commence on July 23, 2024, for 60 months until its completion on July 22, 2029.

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