A joint venture (JV) between Malaysia's WCT Berhad and Oman Roads Engineering Company has secured the RO123.2mn Al Batinah Expressway package 2 contract, according to an announcement by WCT Berhad on the Malaysian bourse Bursa Malaysia.
In its disclosure, WCT Berhad said, "WCT is pleased to announce that it has in joint venture with Oman Roads Engineering Company, on an 80:20 unincorporated joint venture basis, received a letter from the Ministry of Transport and Communications in Oman notifying us of the acceptance of our tender for the construction and completion of Batinah Expressway package 2, in the Sultanate of Oman."
The JV is an unincorporated joint venture between WCT Berhad and Oman Roads Engineering Company. The rights and liabilities of WCT Berhad and Oman Roads in the joint venture are in the ratio of 80:20.
WCT Berhad said that the scope of work under the project comprises construction and completion of a 44.75km dual four-lane expressway.
"The contract sum is RO123.2mn. The works are expected to be completed in 36 months. The contract to be entered is expected to contribute positively to the group's earnings and net assets for the financial years from 2012 to 2015," said WCT Berhad.
The Ministry of Transport and Communication received bids from as many as 14 companies for package 2 of the expressway. The 265km-long Al Batinah Expressway project is divided into six packages.
Earlier this year, the first package of the project was awarded to Galfar Engineering and Contracting Company for RO138.9mn.
© Muscat Daily 2012
