Kuala Lumpur: Brazil's Vale International SA, the world's second largest mining company, has shortlisted as many as seven Malaysian companies to undertake the first phase of a US$2.5 billion (RM7.45 billion) infrastructure development project in Perak.
People involved in the tender process told Business Times that the seven companies shortlisted for the first phase work are required to submit a detailed plan by next week.
It is understood that Muhibbah Engineering (M) Bhd, Gadang Bhd and Sunway Construction Bhd are among the seven companies that have been shortlisted.
"All the submissions will have to be in by the 10th of May," said a source.
It is believed that the first phase will focus on earth works job, as well as the flattening of land in the area.
The total cost for the earth work portion of the contract is estimated to be in the region of between RM200 million and RM300 million.
It is further understood that Vale expects the chosen contractor to start work at the site by as early as July.
Earlier, KYM Holdings Bhd was awarded a contract by Vale to act as consultant and also to help in securing land and development order approval from the relevant government authorities
Last year, Vale also bought more than 460 hectares of land in Teluk Rubiah, Manjung, near the Straits of Malacca from KYM Holdings Bhd for slightlty more than RM200 million.
The land will be used to build a distribution centre and a pelletising plant, which will be able to convert raw iron ore into pellets that are used in steel production.
Vale also intends to build a sea port for its own use as it will be able to ship the pellets to China and India at a cheaper cost.
The seaport terminal will have a sufficient depth to accommodate ships of 400,000 dead weight tonnes and handling capacity for moving up to 30 million tonnes of iron ore in the initial phase.
Previous reports citing Vale had said that the first phase will involve a total capital expenditure of US$900 million (RM2.68 billion), which includes the US$98 million (RM292 million) the company had already spent in 2010.
Read more: 7 shortlisted for Vale mega project http://www.btimes.com.my/Current_News/BTIMES/articles/VALEXXX-2/Article/index_html#ixzz1LRe5pyno
All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.
No comments:
Post a Comment