Ekovest bags design Bunus RSTP contract from the government
Ekovest Bhd’s wholly-owned subsidiary, Ekovest KL Bund Sdn Bhd (EKLB) has entered into an incentive agreement with the Government of Malaysia for the enhanced design in respect of Bunus Regional Sewage Treatment Plant (RSTP) in Kuala Lumpur.
The Government has agreed to adopt the enhanced design submitted by EKLB, according to a filing in the local bourse yesterday.
Bunus RSTP is part of the Greater KL River of Life projects undertaken by Kementerian Wilayah Persekutuan and Jabatan Perkhidmatan Pembetungan, in which Ekovest is the Project Delivery Partner (PDP).
The enhanced design has successfully contributed to the Government’s cost saving of RM94.67 million, translates to a total amount of approximately RM70 million incentives payment to EKLB.
The total incentive for Bunus RSTP shall not exceed RM100 million or 75% of the cost savings, whichever is lower, exclusive of all duties and taxes, the filing said.