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Pestech extends and ups power contract

| Publication date 13 February 2017 | 08:37 ICT

Pestech extends and ups power contract

Malaysian-owned power infrastructure provider Pestech (Cambodia) Ltd has upgraded and expanded its agreement with Cambodia’s Alex Corporation to develop a transmission line and power substation, according to a company filing to the Bursa Malaysia late last week.

The agreement will raise the investment capital for a Sihanoukville-to-Phnom Penh line and a Stung Hav sub-station to $143.9 million, from $86.1 million.

The projects, which were initially awarded to the company in 2014 and set to be completed this year, are now set to be completed in late 2019, delaying payments to the state-owned energy provider Electricite du Cambodge (EdC) until completion.

Malaysian financial services company K&N Kenanga Holdings announced last October that Pestech was seeking two additional energy supply contracts in the Kingdom.

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