IJM wins RM1.12 bil LRT3 underground package contract

PETALING JAYA, March 13, 2018 - IJM Corporation Bhd (“IJM”), has been awarded a major RM1.12 billion contract by Prasarana Malaysia Bhd for the Light Rail Transit Line 3 (LRT 3) project from Bandar Utama to Johan Setia, its first construction contract win for 2018.

IJM will deliver the design, construction and completion of the twin-bored tunnels, a station, ancillary buildings and other associated works for the underground package for the LRT 3. 

The contract requires the use of tunnel boring machines to excavate the 2.1 km underground tunnels with an outer diameter of 6.35 metres, confirming IJM’s expertise in large-scale underground tunnelling and strategic complex infrastructure projects.

The project is scheduled to commence this month, with a construction period of 31 months.

The total contract value of RM1.12 billion has boosted the Group’s outstanding order book to a record, all-time high of RM9.7 billion.

The project is expected to contribute positively to the group’s earnings for the financial year ending 31 March 2019 (FY19) onwards.

“We are proud to be bringing our tunnelling expertise to the construction of the tunnel section for LRT 3 – an undertaking that further demonstrates our ability to carry out technically complex and large-scale urban infrastructure projects,” said Dato’ Soam Heng Choon, CEO & Managing Director, IJM Corporation Berhad.

“IJM has a solid reputation of delivering high standards of quality and performance in project management, design and construction. This project is a continuation of our involvement in major rail transportation networks in the Klang Valley which encompasses infrastructure for LRT, KTM, mass rapid transit (MRT) and monorail projects,” Dato’ Soam added.

Specifically, in the area of railway-related and elevated viaduct projects, IJM brings vast expertise and experience in undertaking and completing numerous projects both locally and internationally. In urban rail, IJM is currently undertaking the Klang Valley Mass Rapid Transit (KVMRT) 2 project for Package V203 viaducts from Jinjang to Jalan Ipoh North Portal and four stations on Package S203. In 2017, IJM successfully completed 5.5 km of elevated viaduct and four stations in Cheras for KVMRT. IJM has also completed works for both the Light Rail Transit LRT1 and LRT2 projects in Kuala Lumpur for STAR LRT and PUTRA (22 km) respectively.

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About IJM Corporation Berhad

IJM Corporation Berhad (“IJM”), formed in 1983, is today one of Malaysia’s leading construction groups and is listed on Bursa Malaysia KLCI. It's business activities encompass construction, property development, manufacturing and quarrying, infrastructure concessions and plantations.

Headquartered in Selangor, its operations are in 10 countries, with primary focus in Malaysia, India and Indonesia. The Group presently has a market capitalisation of around RM10 billion and as of February 2018, the Group employs around 4,800 employees and has total assets of RM21 billion.

The Group’s belief in a shared destiny with its employees remains pivotal to its growing success while its reputation for professionalism, performance and good governance is acknowledged by customers and investors alike from its numerous corporate and industry accolades. IJM is committed to ethical business conduct and subscribes to the principles of good corporate citizenship for sustainable growth and development.