KUALA LUMPUR (March 13): Propel Global Bhd’s (KL:PGB) joint venture with China State Construction Engineering (M) Sdn Bhd has secured RM59.04 million worth of additional works for a data centre development in Johor Bahru.
The job, which began on Jan 22 and is expected to be completed by May 30, covers construction work for the consumer landing station, including all associated and infrastructure works for ancillary buildings, according to a bourse filing on Friday.
Propel Global’s unit, Propel CMT Sdn Bhd, holds a 51% participating interest in the JV, while the remainder is held by China State Construction Engineering.
Under the partnership, Propel CMT handles overall management and administration, while China State Construction Engineering covers project management and technical delivery.
The JV secured the initial RM70 million contract for civil and structural works for the data centre project in October last year.
Shares in Propel Global ended half a sen or 7.14% lower at 6.5 sen on Friday, valuing the company at RM53.96 million.
