Jetson awarded RM189 million Indonesia project

KUALA LUMPUR: Kumpulan Jetson Bhd has been awarded a contract worth US$56 million (RM189.28 million) to design and build 1,018 units of commercial and residential development on 26.95 hectares of land in Indonesia by land developer Kelapa Gading.

In a statement to Bursa Malaysia yesterday, Jetson said its unit, Jetson Construction Sdn Bhd, had received a letter of award from PT Piramida Daya Nusantara, a special purpose vehicle incorporated by Kelapa Gading.

Jetson’s scope of work involves development management, design development and approval as well as construction and project management of lands at Rawa Terate, Kelapa Gasing, Daerah Khusus Ibukota Jakarta, Jakarta Timur, Indonesia.

The final contract sum would be derived on a cost-plus basis while project payment was on a progressive basis, it said.

Jetson expects the project to contribute positively to the group’s earnings.

By The EDGE MALAYSIA