Muhibbah JV awarded 2 contracts to expand/build Cambodia airports

 7/11/13
KUALA LUMPUR (Nov 6): Muhibbah Engineering (M) Bhd has bagged two contracts worth US$87 million (RM276 million), via a joint venture (JV) with Vinci Construction Grands Projets (VCPG), to expand two airports in Cambodia.
The JV, of which Muhibbah has 30% interest, will  construct and expand the terminal building and the refurbishment of the Phnom Penh and Siem Reap Airports in Cambodia.
Currently Societe Concessionnaire De L’aeroport (SCA),  the JV, has the concession rights to build, operate and transfer three international airports in Cambodia, namely Phnom Penh, Siam Reap, and Sihanoukville International Airports.
The duration of the contract for the Phnom Penh Airport and Siem Reap Airport is 28 months and 23 months respectively and both are expected to be completed by the end of 2015.
Muhibbah said that the contracts are expected to contribute positively to the earnings and net assets of the company for the current and future financial years.