Eversendai announces new contracts valued at RM1.1bil

KUALA LUMPUR: Eversendai Corp Bhd’s group of companies has been awarded RM1.1bil worth of new contracts, bringing its current outstanding order book to RM6.7bil.

In a filing with Bursa Malaysia, the group said its business in Chennai, India, secured the composite structural steel and civil works project for DLF Downtown Taramani Block 4 & 5, the single largest contract win in the history of Eversendai India.

“The 27-floor and 32-floor building development, with a total built-up area of 4.4 million sq ft, will redefine Chennai’s IT corridor as its vibrant new epicentre with state-of-the-art office spaces offering unparalleled amenities,” it said.

The scope of the project includes engineering, connection design, shop drawings, steel material supply, fabrication, delivery, erection of structural steel works and civil works.

Meanwhile, Eversendai in Mumbai secured a C65 commercial tower project, a 19-floor composite structure building and the 30 Little Gibbs, a high-rise composite structure residential building in Malabar Hills, Mumbai.

In Singapore, Eversendai secured the founder’s Memorial project.

It said the scope of these projects includes connection design, engineering and preparation of shop drawings, steel material supply, fabrication, delivery and erection of structural steel works.

Meanwhile, Eversendai in Saudi Arabia secured another structural steel subcontract works package for the Speed Park Track, Primary Pit and Motorsports Experience Centre.

The Speed Park Track is a new Qiddiya racetrack located near the heart of Riyadh that is set to host the biggest international motorsport championships in the world.

With this development, Qiddiya will be taking the spot as the hub of F1 races, it said.

“Going forward, there are more lucrative high-profile projects expected to be secured in the Middle East and other countries where we currently have operations.

“The Group foresees progressive optimal utilisation of all its fabrication facilities with the current outstanding order book as the project momentum increases,” said executive chairman and group managing director Tan Sri AK Nathan.

In an update, Nathan said the group’s Ijarah facility drawn down for the first lift boat Vahana Aryan has been fully settled by Vahana Offshore (M) Sdn Bhd.

Its total borrowings has been reduced by 26% from RM1.05bil to RM778mil, he said.

On the Trojena Ski Village mega project in Saudi Arabai, he added that site progress will increase at a faster pace from November 2024 onwards.

“The first steel structure for the Trojena Ski Village project was installed on schedule on 20 June 2024, meeting the first contractual milestone.

“The connection design, engineering and shop drawings are in progress which are paramount to start structural steel fabrication in the factory and construction at project site,” said Nathan.