Eversendai secures contracts worth RM5.4bil
PETALING JAYA: Eversendai Corp Bhd has secured four contracts in Saudi Arabia, United Arab Emirates (UAE) and India with a cumulative value of RM5.4bil, bringing the group’s current outstanding order book to a record high of RM6.6bil.

Executive chairman and group managing director Tan Sri A.K. Nathan said despite going through a very challenging period in the last few years, the group remained optimistic that it would rebound strongly due to the record order book, translating to optimum utilisation of all its fabrication facilities.

“They are very significant new contract wins and a substantiation of our strength and capability in securing and successfully delivering projects in Saudi Arabia, UAE and India.

“The structural steel projects are highly complex befitting Eversendai’s technical capabilities and colourful landmark track record in executing projects in 18 countries while adhering to safety, quality and timely completion,” he said in a statement yesterday.

In Saudi Arabia, Eversendai Engineering Saudi LLC, in collaboration with Albawani Co Ltd, secured the first structural steel signature building from Neom for the Trojena’s Ski Village – a year-round mountain destination.

In a filing with Bursa Malaysia, Eversendai said the scope of work consisted of engineering, connection design, material supply, fabrication and installation of structural steel, pre-cast and concreting, metal decking and fire-proofing for the mountain resort.

In UAE, Eversendai’s subsidiary, Eversendai Mega Structure FZ LLC, secured the structural steel scope for the Wynn Al Marjan island integrated resort development in Ras Al Khaimah.

The development will feature a 1,500-room luxury hotel with world-class shopping, meeting and convention facilities, restaurants and lounges, extensive entertainment choices and other amenities.

In India, Eversendai secured two structural steel projects which included the Rupa IT Building and the Rupa Crystal IT Building in Mumbai.

According to Eversendai, the new projects are expected to contribute positively to the net assets and earnings of the group for the financial year ending Dec 31, 2024 and onwards until the completion of the projects.

The contracts saw Eversendai shares rally, rising 18.5 sen or 90% to close at a four-year high of 39 sen.

Other structures that Eversendai had constructed include the Burj Al Arab, Burj Khalifa, JW Marriott Marquis Hotel and Al Shams Sky Tower in UAE, PETRONAS Twin Tower 2 and Merdeka 118 Tower in Malaysia, Kingdom Centre, Public Investment Fund Tower and Neom Sindalah Island cluster one.
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Eversendai Corp Bhd has secured four contracts in Saudi Arabia, United Arab Emirates (UAE) and India with a cumulative value of RM5.4bil, bringing the group’s current outstanding order book to a record high of RM6.6bil.