KUALA LUMPUR: WCT Holdings Bhd, which is mainly into engineering and construction, secured an infrastructure contract at the Tun Razak Exchange (TRX) worth RM754.8mil from 1MDB Real Estate Sdn Bhd.
The two-year contract will cover underground road structures, installation of direct buried utilities, at-grade and elevated roadway, as well as associated earthworks and mechanical and electrical works, WCT said in a statement on Monday.
The infrastructure contract package made up a significant part of TRX’s comprehensive infrastructure programme that will turn the financial district into the best connected address in Kuala Lumpur, it said.
It will provide direct links between TRX with major highways such as the SMART tunnel and Maju Expressway, as well as the citys arterial roads Jalan Tun Razak and Jalan Sultan Ismail.
Separately, WCT is also buying a plot of residential land in TRX for RM223mil as part of its strategy to seek opportunities in prime development with strong growth and earnings potential.
It said the proposed residential development would have an estimated gross development value of RM1.1bil.
TRX’s master plan also includes implementing site-wide infrastructure with a sizeable public realm and excellent sustainable facilities, such as a wastewater recycling plant that will cut potable water demand by 50%.
The financial district is investing close to RM3.8bil for its infrastructure. Phase 1 is scheduled for completion in 2018. - Bernama
WCT shares gained 5 sen to close at RM1.42 on Monday.
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