China Communications Construction Co (M) Sdn Bhd recently awarded a $45.2 million contract to Kerjaya Prospek Group for dredging works in Penang.
According to Kerjaya Prospek stock exchange filing from yesterday, the contract is part of the Package One of a project known as “Reclamation For Seri Tanjung Pinang (Phase II) Development Penang“.
The contract includes dredging of the access channel for the project to be undertaken by Future Rock Sdn. Bhd. (FRSB), Kerjaya Prospek’s 70%-owned subsidiary company.
Work on the scheme, where CCCC is the principal contractor for Seri Tanjung Pinang Development, will begin soon and is expected to be completed by March 2018.
The second phase of this massive project has been planned as a series of islands. The development – spanning over 740 acres – will create the largest waterfront community in Penang’s history.