Posted By Staff Reporter
MALAYSIAN electric power company Pestech International Bhd has won a power grid development project in Papua New Guinea worth about K40.09 million.
The industrial electric power contracting services provider said in a media statement that its wholly-owned unit, Pestech Sdn Bhd, has received a letter of acceptance from PNG Power Ltd (PPL) in relation to PPL’s Port Moresby power grid development project.
An electric power grid is an interconnected network for delivering electricity from the supplier to consumers.
Under the contract with PNG Power, Pestech would be responsible for the procurement of plant, design, supply, installation, testing and commissioning of the Kila Kila 66/11kV substation in Moresby South and 66kV double circuit transmission line.
The contract comprises a portion to be paid in US dollar worth $7.11 million (K23m), with the remainder K17.26 million (in kina).
PNG Power is a fully integrated power authority responsible for generation, transmission, distribution and retail of electricity throughout PNG, and servicing individual electricity consumers.
PPL services customers in almost all urban centres and rural areas throughout the country encompassing industrial, commercial, government and domestic sectors. The project is expected to start next month and to be completed in the next 24 months.
According to Pestech, the project was funded by the Asian Development Bank and the award of the project was through international competitive bidding process in accordance to ADB’s procurement of works procedures.
Pestech expects the contract to contribute positively to its future earnings for the financial years ending June 30, 2017 (FY17) to FY19.
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