KUALA LUMPUR (Oct 27): KNM Group Bhd said it has signed a definitive contract with Cypark Sdn Bhd for the RM268.38 million solid waste project.

In a filing to Bursa Malaysia today, KNM said its wholly-owned subsidiary, KNM Process Systems Sdn Bhd, via SHK Consortium, has signed the definitive contract agreement yesterday (Oct 26) to undertake engineering, procurement, construction and commissioning (EPCC) works of the solid waste modular advanced recovery and treatment systems waste management solutions (SMART WTE system) at Ladang Tanah Merah, Negeri Sembilan.

SHK Consortium is a consortium formed between KNM Process and Hitachi Zosen Corp, Japan.

It received a letter of award for the job on Aug 28, according to a filing to Bursa on the same date.

The total EPCC contract price of about RM268.38 million covers the offshore portion for the EPCC works in the sum of 3.8938 billion yen (equivalent to about RM135.38 million), and onshore portion of the EPCC works for the sum of RM133 million.

KNM closed 1 sen or 1.85% lower today, for a market capitalisation of RM1.04 billion.

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