KUALA LUMPUR (Dec 6): Ekovest - MRCB JV Sdn Bhd (EMJV) has been appointed the project delivery partner (PDP) by the government to assist in implementing the River of Life (ROL) project.
EMJV is an EKOVEST BHD [], MALAYSIAN RESOURCES CORP []oration Bhd (MRCB) joint venture, where Ekovest will subscribe to 60% of the company's paid-up and MRCB the remaining 40%.
The ROL project is an Entry Point Project in the Greater Kuala Lumpur National Key Economic Area under the Government’s Economic Transformation Programme.
The project's objective is to transform the rivers running through the heart of Kuala Lumpur by undertaking river rehabilitation, beautification of riverbank and river corridor development. It involves rehabilitation of Sungai Kelang and Sungai Gombak and the beautification of an initial 10.7km stretch.
EMJV’s PDP service will be three years with a projected contract value of RM2.2 billion.
In a statement Tuesday, EMJV said it would earn a maximum fee of RM22 million or 1% of the total projected works to be delivered over a three year period.
It will also enjoy monetary incentives with respect to the work done, it said, adding that the contract was expected to contribute positively to its future earnings.
EMJV director KC Lim said with the combined strength and expertise of both JV partners, it was confident of successfully implementing the project as the PDP, as well as fulfilling the KPIs to enjoy the performance incentives offered by the government. As the PDP, EMJV will monitor and coordinate the inter agency cooperation.
EMJV is an EKOVEST BHD [], MALAYSIAN RESOURCES CORP []oration Bhd (MRCB) joint venture, where Ekovest will subscribe to 60% of the company's paid-up and MRCB the remaining 40%.
The ROL project is an Entry Point Project in the Greater Kuala Lumpur National Key Economic Area under the Government’s Economic Transformation Programme.
The project's objective is to transform the rivers running through the heart of Kuala Lumpur by undertaking river rehabilitation, beautification of riverbank and river corridor development. It involves rehabilitation of Sungai Kelang and Sungai Gombak and the beautification of an initial 10.7km stretch.
EMJV’s PDP service will be three years with a projected contract value of RM2.2 billion.
In a statement Tuesday, EMJV said it would earn a maximum fee of RM22 million or 1% of the total projected works to be delivered over a three year period.
It will also enjoy monetary incentives with respect to the work done, it said, adding that the contract was expected to contribute positively to its future earnings.
EMJV director KC Lim said with the combined strength and expertise of both JV partners, it was confident of successfully implementing the project as the PDP, as well as fulfilling the KPIs to enjoy the performance incentives offered by the government. As the PDP, EMJV will monitor and coordinate the inter agency cooperation.
