PETALING JAYA: Eversendai Corp Bhd
has bagged new contracts worth RM1.1bil, through its subsidiaries across Asia.
In a statement yesterday, the group reported that it has secured the composite structural steel and civil works project for the DLF Downtown Taramani block four and five in Chennai, India, representing the single largest contract win of Eversendai India.
The group said the 27-floor and 32-floor building development, with a total built-up area of 4.4 million sq ft, would redefine Chennai’s information technology corridor as its new epicentre with state-of-the-art office spaces.
“The scope of this project includes engineering, connection design, shop drawings, steel material supply, fabrication, delivery, erection of structural steel works and civil works,” it said.
Elsewhere, Eversendai secured the C65 commercial tower project in Mumbai, a 19-floor composite structure building and the 30 Little Gibbs, a high-rise composite structure residential building in Malabar Hills.
In Singapore, Eversendai clinched the Founder’s Memorial project.
“The scope of all the projects includes connection design, engineering and reparation of shop drawings, steel material supply, fabrication, delivery and erection of structural steel works,” the group reported.Eversendai also landed a host of projects in the Middle East, beginning with the structural steel subcontract works package for the Speed Park Track, Primary Pit and Motorsports Experience Centre in the Kingdom of Saudi Arabia.
The group reported that the Speed Park Track is a new Qiddiya racetrack located near the heart of Riyadh that is set to host the biggest international motorsport championships in the world.
It noted: “With this development, Qiddiya will be taking the spot as the hub of Formula One races. Fans will have multiple vantage points to watch the races as the Tuwaiq Mountains of Qiddiya City overlooks the Speed Park Track.”
Executive chairman and group managing director of Eversendai Corp Tan Sri AK Nathan said the group’s current record outstanding order book of RM6.7bil, including the newly secured projects, would be a boost to progressively enhance the company’s turnover and profits.
Going forward, he said there are more lucrative, high profile projects expected to be secured in the Middle East and other countries where Eversendai currently has operations.
“We foresee progressive optimal utilisation of all its fabrication facilities with the current outstanding order book as the project momentum increases. Our Ijarah facility drawn down for the first lift boat Vahana Aryan has been fully settled by Vahana Offshore (M) Sdn Bhd,” he said.
The group’s total borrowings has reduced by 26% from RM1.05bil to RM778mil and it is working towards reducing the borrowings further in the next few years.
Meanwhile, Nathan added: “The Trojena Ski Village mega project secured from Neom in Saudi Arabia on March 7 this year is progressing well.
“The first steel structure for the Trojena Ski Village project was installed on schedule on June 20, 2024, meeting the first contractual milestone.
“The connection, design, engineering and shop drawings are in progress, which are paramount to start structural steel fabrication in the factory and construction at the project site. “
He said the site progress would increase at a faster pace from November 2024 onwards to complete the project as committed by the group’s management, as well as its workforce.
