KUALA LUMPUR: Societe Concessionaire De L’aeroport (SCA) has awarded two contracts to a joint venture (JV) formed by Muhibbah Engineering (M) Bhd and Vinci Construction Grands Projects (VCGP) to construct and expand the terminal building of the Phnom Penh and Siem Reap airports in Cambodia.
In an exchange filing yesterday, Muhibbah Engineering said the contracts totalled US$87 million (RM276 million).
The contracts duration for the Phnom Penh airport and Siem Reap airport are 28 months and 23 months respectively.
Both are expected to be completed by the end of 2015.
SCA is also a JV consortium of Muhibbah and French Vinci Group with the concession rights for the built, operate and transfer contracts of three international airports in Cambodia.
SCA is 70% controlled by Vinci and 30% by Muhibbah’s 70% owned Muhibbah Masteron (Cambodia) Co Ltd (MMC). MMC is 30% owned by two local Cambodian businessmen, Okhna Kong Triv and Okhna Hann Khieng.
“In view of the rapid growth of airports passengers arrivals over the years and expected increasing trend of airports business, SCA has embarked on this capital expansion programme to further extend and upgrade the international airports of Cambodia.
“The contracts are expected to contribute to the earnings and net assets of Muhibbah Group for the current and future financial years,” Muhibbah Engineering said in the filing.
In March 2013, another Muhibbah Engineering-led JV, Muhibbah-SV-Samjung JV, has been awarded a contract by Mass Rapid Transit Corp Sdn Bhd for the design, supply, installation, testing and commissioning of noise barriers and enclosures for RM202 million.
The project commenced in the second-quarter (2Q) of 2013 and is expected to be completed by 2Q of 2016.