SUNCON (5263): SUNWAY CONSTRUCTION GROUP BHDn inks LoIs for LSS4 projects worth a combined RM385mil

SUNCON (5263): SUNWAY CONSTRUCTION GROUP BHDn inks LoIs for LSS4 projects worth a combined RM385mil

KUALA LUMPUR: Sunway Construction Group Bhd has accepted two letters of intent (LoI) for the construction of solar photovoltaic energy generating facilities under the large scale solar 4 (LSS4) programme worth a combined RM385mil.

In a bourse filing, the group said Gopeng Bhd subsidiary GBS Suria Sdn Bhd had issued an LoI for the construction of a solar photovoltaic energy generating facility with a generating capacity of 50MW in Mukim Teja in Kampar, Perak, for a total sum of RM200mil

A second letter of intent was issued by Sharp Ventures Solar Sdn Bhd for the construction of a solar photovoltaic energy generating facility with a generating capacity of 50MW in Mukim Kapar in Klang, Selangor for RM185mil.

Both LSS4 projects are scheduled to be completed and achieve the commercial operation date on Dec 31, 2023 as required by Suruhanjaya Tenaga.

Including these new projects, SunCon said the total new projects it secured this year amounts to RM1.47bil.

The group noted that the deal with GBS Suria is a related-party transaction by virtue of the companies' connections with the Cheah family.

https://www.thestar.com.my/business/business-news/2021/12/27/suncon-inks-lois-for-lss4-projects-worth-a-combined-rm385mil