Salcon Berhad (“Salcon” or “the Company”) is pleased to announce that Salcon Engineering Berhad, a wholly-owned subsidiary of the Company, has on 1 August 2011 accepted the Letter of Award dated 28 July 2011 from City Corporation, Davanagere for providing and laying of raw water pumping main from Rajanahalli Head Works to Kundawada Lake, installation of New Vertical Turbine, Centrifugal pump sets, construction of 15LL Clear Water Storage Reservoir, 20 MLD Filter House and supplying and installation of Bulk Flow meters for water supply scheme to Davanagere City Corporation (“the Project“).
The contract sum for the Project is RM16.2 million/Rs. 24,28,88,744/- and the contract duration is 18 months commencing from end of August 2011.
The Project is expected to contribute positively to the earnings or net assets of Salcon Group for the financial years ending 31 December 2012.
Salcon do not foresee any exceptional risk other than operational risk associated with the Project.
None of the directors and/or major shareholders of the Company, or persons connected with them have any interest, direct or indirect, in the Project.
