Ekovest Bhd will participate in the construction of the Pan Borneo Highway by entering into a JV with Miri-based Samling Resources Sdn Bhd to develop a 95.4km Sarawak stretch under a RM2.11bil contract. Ekovest Bhd’s unit Ekovest Construction Sdn Bhd inked a joint venture and shareholders agreement with Samling Resources to jointly develop and upgrade the stretch from Semantan to Sg Moyan Bridge plus Kuching-Serian roundabout interchanges. A JV company, Samling-Ekovest JV Sdn Bhd, will be incorporated as the vehicle for the parties to undertake the implementation of the project. Ekovest Construction will hold a 30% stake in the JV company while Samling Resources will own the rest. Based on this, Ekovest’s share of the contract value is RM633.8mil.
Thestar.com.my 06 Jan, 2017