Malaysia’s PJBumi unit to tender for Sudan’s sewerage project

KUALA LUMPUR, Mar 23 (AFX) — PJBumi Bhd said its wholly-owned subsidiary PJBumi Engineering Sdn Bhd has agreed to form a working collaboration with Sudan’s Khartoum for Water and Services Company to tender for Sudan’s Omdurman City’s sewerage project.

In a statement to Bursa Malaysia, PJBumi said a special purpose vehicle will be incorporated upon the award of the project, with PJBumi Engineering holding a 60 pct stake.

It said the equity contribution of up to 38 mln rgt will take effect upon the award of the contract and the fund will be paid in stages depending on the work progress and cash flow requirements.

It added that the fund will be sourced through bank borrowings and internally-generated funds.

PJBumi said the project is in line with its expansions plans internationally, and will allow it to undertake projects in the waste treatment industry in Khartoum city and Sudan on a privatization basis.