PROTASCO Bhd has been awarded an eight-year extension of its concession to maintain Federal Roads in the central and eastern areas of Peninsular Malaysia until 2026 along with two other road maintenance concessions in Perak.
The Concession Agreement covers the Federal Roads in Selangor, Pahang, Terengganu and Kelantan for a further period of eight years, starting from 17 Feb 2018 to 16 Feb 2026.
Meanwhile, a subsidiary of Protesco Bhd, Empayar Indera Sdn Bhd has been awarded two concessions for routine and periodic maintenance works by the Perak state government. The first covering state roads in Perak is a five-year extension for and existing concession which expires in December 2019. This agreement includes a two-year extension (ending 31 December 2026).
According to the company, the contract sum for the first two years will be approximately RM126.1 million and will be subjected to review every two years during the contract period of five plus two years.
The second concession is also a five-year extension for both routine and periodic maintenance works for agricultural roads in Perak worth RM90.1 million in the first two years. The contract period if for five years from 1 March 2019 until 28 February 2024 with an extension of another two years from 1 March 2024 until 28 February 2026.
“This Federal Road concession and the two Perak concessions will help us maintain stable earnings and will boost our maintenance order book to RM5.3 billion,” said Dato’ Sri Chong Ket Pen, Executive Vice Chairman & Group Managing Director of Protasco Group.