KUALA LUMPUR (March 27): Theta Edge Bhd said it has teamed up with India-based power transmission giant KEC International Ltd in bidding for Tenaga Nasional Bhd’s (TNB) future grid projects.

The information technology services provider said it inked a Memorandum of Understanding (MOU) with KEC International and its Malaysian unit KEC International (M) Sdn Bhd (KEC Malaysia) to submit a contractor prequalification assessment related to grid infrastructure work via a joint venture partnership.

Under the MOU, the parties intend to submit their application for prequalification and appoint either KEC International or KEC Malaysia as the subcontractor to Theta Edge for providing supply and installation solutions for power transmission infrastructure.

“KEC International and KEC Malaysia have the required expertise in project execution which is one of the requirements under the prequalification,” Theta Edge said in a bourse filing on Wednesday.

“The MOU is to record the preliminary understanding on [whether] KEC International or KEC Malaysia will be the subcontractor to Theta Edge for providing supply and installation of solutions, the warranty of the solutions and project management works, which forms the basis for entering into the subcontract agreement for the project,” it added.

Theta Edge said the MOU forms part of the group’s capability development to strengthen its expertise in power grid construction, installation and maintenance of TNB’s power grid infrastructure following its success in its National Digital Network (Jendela) project delivery.

In January 2022, Theta Edge's wholly-owned telco unit, Theta Telecoms Sdn Bhd, was appointed as the designated universal service provider for the provision and implementation of Jendela Phase 1 project with a maximum cost for its portion of the project set at RM154.36 million.

According to Theta Edge, KEC International, the flagship company of Indian industrial conglomerate RPG Group, is an engineering, procurement and construction (EPC) major for projects in key infrastructure sectors such as power transmission and distribution, railways, civil and urban infrastructure, solar, smart infrastructure, oil and gas pipelines and cables.

“Their robust and integrated capabilities span the entire EPC value chain from ‘concept to commissioning’ that has successfully executed complex projects across some of the world’s most difficult terrains and conditions, aided by robust engineering, procurement, execution, and project management capabilities.

“KEC International [has a] vast manufacturing footprint extending across India, Dubai, Brazil and Mexico,” Theta Edge said, adding that the multinational company is supported by a supply chain extending over 105 countries.

Shares in Theta Edge ended four sen or 3.31% lower at RM1.17 on Wednesday, giving the group a market capitalisation of RM138.02 million.