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Tuesday, June 28, 2011

Gadang set to win RM200m Vale deal (BT)

Gadang Holdings Bhd is poised to win a contract worth as much as RM200 million to carry out earthworks for a project in Perak, sources familiar with the plan said yesterday.

The contract is part of a US$2.5 billion (RM7.45 billion) infrastructure development by Brazil's Vale International SA, the world's second largest mining company. This will be Vale's maiden award for the project.

It is understood that an official announcement will be made by as early as this week.

Business Times recently reported that Vale had shortlisted seven Malaysian companies for the first phase of the project.

Among them are Muhibbah Engineering (M) Bhd, Sunway Construction Bhd, DRB-HICOM Bhd and KYM Holdings Bhd.

It is firmly believed that Gadang is favoured because it had submitted the lowest bid and the company is committed to finishing the job within the time frame given.

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