KUALA LUMPUR (Nov 6): Econpile Bhd has inked a memorandum of understanding (MOU) with Sungai Klang Link Sdn Bhd (SKL) for the construction works for an elevated highway project proposed by SKL to the government.

In a statement on Monday, the piling and foundation specialist said the proposed collaboration entails Econpile’s wholly-owned subsidiary Econpile (M) Sdn Bhd providing its know-how, experience and expertise to plan, construct, complete, and fully provide its services, manpower, material, machinery and equipment as required for the construction works of the elevated highway project.

According to the group, the proposed highway is in its final stages of approval by the government.

“Our experience has garnered us a deep understanding of the terrain and soil characteristics in the Klang Valley, giving us the edge to contribute meaningfully for the development of this highway project.

“With our extensive fleet of machineries, we are ready to provide our expertise for the project and be in line with SKL’s environmental and sustainability goals,” said Econpile executive director and CEO Raymond Pang. 

Meanwhile, SKL Group managing director Datuk Nazri Ismail said the company welcomes Econpile onboard to undertake the project together.

“Our long-term goal from this project does not only focus on improving the connectivity, but also to emphasise on rehabilitating the river, preserving the environment during operation of the highway, and looking after the community through impactful projects,” he said. 

The proposed highway stretches 53km and is aligned along the Klang River in the Klang Valley, which will be integrated with the existing highway networks through seven proposed interchanges starting from Klang with access through an interchange of the West Coast Expressway and ends at the interchange of New Pantai Expressway 2 (NPE 2).

Econpile currently has an order book of RM430 million comprising mainly piling and foundation works for high-rise developments in Malaysia and Cambodia.

Its share price closed 1.5 sen or 5% higher to 31.5 sen on Monday, giving it a market capitalisation of RM446.51 million. Year to date, the stock has jumped 85.3%.