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ALAM, Jan 16 (Bernama) -- Gamuda Bhd has submitted its bid for
up to RM4 billion worth of new projects in the Middle East,
group managing director, Datuk Lin Yun Ling said.
Gamuda Bhd Eyes New
Projects In West Asia
"Currently, the group has secured RM3 billion worth of projects
in West Asia namely the Dukhan Highway and new Doha
International Airport projects in Qatar which are now in high
gear," he told reporters after the company's annual general
meeting here today.
Other existing projects include the RM640 million Sitra Cosway
Bridges in Bahrain.
Lin said the group was expecting a slightly better net profit
growth in the financial year ending July 31, 2007 compared with
the net profit of RM169 million registered in 2006.
He said the Dukhan Highway project was expected to be completed
by the third quarter of this year, while the new Doha Airport by
end of the year.
"Over the last two years, we have invested over RM500 million in
machinery and plant in the West Asia and through such
investment, we are in a very strong position to get new projects
globally particularly in West Asia," he said.
Lin said its overall project order book has been replenished to
On another note, Lin said funding for its US$700 million Nam
Theun 1 (NT1) hydropower project in Laos was expected to be
finalised this year.
He said Gamuda has signed a tariff agreement with Thailand's
Electricity Generating Authority (EGAT) on the future purchase
of hydro-electric power to be generated by the project.
Lin said preliminary construction work has already started and
the project was expected to be completed by 2012.
Gamuda NT1 project has a generation capacity of 523 megawatts,
and will be built on the Nam Kading, a tributary of the Mekong
in the central Laos province of Bolikhamsay.
The company had in 2004 signed two agreements with the Laotian
government to develop NT1 project on a build-operatee-transfer