Wednesday June 27, 2012
Scomi monorail project in Brazil to commence next month
“The total value for the project is RM2.7bil, of which our portion is RM600mil,” he told Bernama after Scomi Engineering's AGM. He said manufacturing activities would be undertaken at a plant located in Palmares and delivery of the first monorail vehicle was scheduled for April next year.
The entire project is expected to be completed by 2015.
On capital expenditure, Shah said the group would continue investing between RM20mil and RM30 mil annually on research and development. The group was recently shortlisted by India's IL&FS Transportation Network Ltd (ITNL) to undertake Chennai's 57-km monorail project worth an estimated RM6bil.
“Hopefully we will find out the outcome within the next three to four months,” he said.
On new projects, Shah said the group was also eyeing projects in Rio de Janeiro and Sao Paolo. - Bernama
for which tenders would be out in the third quarter. - Bernama