Eversendai Corporation Berhad announced that it has been awarded RM1.1 billion worth of new contracts for projects in Chennai, Mumbai, Singapore and Saudi Arabia.
The steel construction company said it had secured the composite structural steel and civil works project for the DLF Downtown Taramani Block 4 & 5, the single largest contract win in the history in India. The 27-floor and 32-floor building development, with a total built-up area of 4.4million sq. ft., is said to redefine Chennai's IT corridor as its vibrant new epicentre with state-of-the-art office spaces offering unparalleled amenities. The scope of this project includes engineering, connection design, shop drawings, steel material supply, fabrication, delivery, erection of structural steel works and civil works.
In Mumbai, it secured the C65 commercial tower project, a 19-floor composite structure building and the 30 Little Gibbs, a high-rise composite structure residential building in Malabar Hills, Mumbai. As in Singapore, Eversendai secured the Founder's Memorial project. The scope of all these projects includes connection design, engineering & preparation of shop drawings, steel material supply, fabrication, delivery and erection of structural steel works.
For Kingdom of Saudi Arabia, the group is to work on the Speed Park Track, Primary Pit and Motorsports Experience Centre. The Speed Park Track is a new Qiddiya racetrack located near the heart of Riyadh that is set to host the biggest international motorsport championships in the world. With this development, Qiddiya will be taking the spot as the hub of F1 races. Fans will have multiple vantage points to watch the races as the Tuwaiq Mountains of Qiddiya City overlooks the Speed Park Track.
The Group said it foresees progressive optimal utilisation of all its fabrication facilities with the current outstanding order book as the project momentum increases. Its Ijarah facility drawn down for the first lift boat Vahana Aryan has been fully settled by Vahana Offshore (M) Sdn Bhd. Its total borrowings has reduced by 26% from RM1,052 million to RM778 million and is working towards reducing the borrowings further in the next few years.
