It is one of the beneficiaries of the roll out of construction projects in 2010. The company recently awarded an irrigation dam project in Besut, Terengganu said to be worth RM300 million.
Sources say a consortium led by JAKS is believed to have the job for the construction of the Paya Peda Dam virtually in the bag, but a final letter of award has not yet been issued. Its officials say it has yet to be finalise the terms with its pert
The officials say the company is expected to make an announcement on the contract this week.
It remains unclear what JAKS’ portion of the contract would be. But being a manufacturer of pipes and a contractor for their installation, the company is expected to secure a reasonable sum of the contract work.
Apart from the Paya Peda Dam, JAKS is also looking for jobs in the RM5 billion Pahang Selangor raw water transfer project to turn the company around.
For FY2009 ended Oct 31, it recorded a net loss of rm6.75 million.
In terms of water projects, JAKS has relied on jobs from the federal government for the past few years as it has a legal dispute with the main player in Selangor.
Its expertise in water piping and fitting should stand the company in good stead to land some jobs ins selected packages of the Rm1.8 billion Selangor Pahang interstate raw water transfer project that is expected to be rolled out over the next one to two quarters.
It has submitted a joint bid with another local contractor for the piping works worth RM300 million for the project designed to transfer raw water from Pahang to Hulu Langat in Selangor.
The company also is part of the a consortium that is bidding for the pipe works from the Langat 2 water treatment plant that will process the raw water from Pahang. The entire water treatment plan project is worth about RM4.5 billion.
It is also attempting to diversify into power plant construction.
17 hours ago
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