Dec 7, 2009

SAAG shall jump with the RM406m job awarded

A steam turbine used to provide electric power.

Letter of Award from Garisan Etika Bangladesh (Pvt.) Ltd. to the Company


SAAG Consolidated (M) Bhd ("SAAG" or "the Company")
- Letter of Award from Garisan Etika Bangladesh (Pvt.) Ltd. to the Company

The Board of Directors of SAAG is pleased to announce that the Company has on even date accepted a Letter of Award dated 3 December 2009 (the LOA") from Garisan Etika Bangladesh (Pvt.) Ltd. (GEB) whereby GEB has selected the Company as the engineering, procurement and construction contractor for the design, supply, construction, installation, testing, commissioning and completion of 6 X 6 MW DG Power Plant (the 36 MW Plant) and the 2 X 34 MW Combined Cycle Power Plant (the 68MW Plant) [collectively, the Power Plants] at the Adamjee Export.

SAAG Consolidated (M) Bhd has accepted a letter of award from Garisan Etika Bangladesh (Pvt) Ltd (GEB) for power plant projects worth US$120mil (RM406mil)

GEB selected SAAG as the engineering, procurement and construction contractor for the design, supply, construction, installation, testing, commissioning and completion of a 6x6-megawatt (MW) DG Power Plant and the 2x34-MW combined cycle power plant at the Adamjee Export Processing Zone, Bangladesh, it told Bursa Malaysia yesterday.

The agreed execution period was 15 months from commencement of the project works, the company told Bursa Malaysia yesterday, adding that payment would be paid progressively over the project period.

The projects would be funded through bank borrowings, internally generated funds and/or corporate exercises, SAAG said.

They were not expected to have any material effect on the earnings per share of the company for the financial year ending Dec 31, SAAG said

source: thestar biz