Malaysian firm to clinch Southern Sudan contract
June 30, 2006 (PETALING JAYA) — Malaysian Seremban-based Sithru (M) Sdn Bhd has been awarded an exclusive letter of intent by the Southern Sudan government to undertake a 5,000-megawatt hydroelectric facility in Southern Sudan.
The company said in a statement that the contract, which is for 15 years, was valued at US$9.5bil. It said the Southern Sudan government would inject 10% of the contract value and provide an oil-backed sovereign guarantee for the balance, the Malaysia Star reported.
Sithru aims to conduct immediate feasibility studies, environmental impact assessment, and topographic and geological analyses to submit a comprehensive proposal to Southern Sudan.
The company is confident of clinching the deal once it submits the full proposal within the next three months. The Sithru group of companies are primarily involved in infrastructure and engineering works.
(ST/Star)