Gamuda and Conlay will hold 75% and 25% interests respectively in the new JV.
PETALING JAYA: Gamuda Bhd
has received a letter of award from Upper Padas Power Sdn Bhd (UPPSB) to be the total development contractor (TDC) for the 187.5MW Ulu Padas Hydroelectric Project in Tenom and Sipitang, Sabah.
In a statement yesterday, Gamuda stated it and joint-venture partner, Conlay Construction Sdn Bhd, will incorporate a new joint venture (JV) to be the TDC worth RM3.05bil. Gamuda and Conlay will hold 75% and 25% interests respectively in the new JV.
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