PESTECH Secures Power Grid Contract In Philippines Worth RM17.5 Million
PESTECH has secured a contract in relation to the supply of parts, materials, special tools, and technical expertise for the comprehensive maintenance of the existing Subic Substation at a total contract value of USD 3.9 million or RM17.5 million (based on a 4.5 exchange rate)
Under the Project, the Group is to supply parts and provide comprehensive maintenance to the Subic 230kV Outdoor Gas-Insulated Switchgear that was energised and commissioned in October 2007.
The Subic GIS Substation consists of two nos of 83MVA power transformers bays and two nos of transmission lines bays. The project aims to enhance the reliability of power transmission in Subic area and also the whole Luzon grid.
Commencement date of the project has not been determined by the National Grid Corporation of Philippines and is to be completed in two stages which are dependent on each other. Which is depending on the supply of goods/parts: 300 calendar days from the commencement date and comprehensive maintenance: 108 shutdown days (18 days per breaker)
The Project will contribute positively to the revenue and earnings of PESTECH in accordance with the stage of project progress to be recognised in the financial years ending 30 June 2023 to 30 June 2024.