Posted on November 5, 2015
Malaysian luxury property developer Eastern & Oriental (E&O) has selected infrastructure giant China Communications Construction Company (CCCC) for major land reclamation works on the second phase of its high-end residential development on Penang Island.
Under the contract, worth just over $534m (RM2.320bn), CCCC’s newly formed Malaysian subsidiary will dredge to reclaim 891 acres for phase 2 of E&O’s Seri Tanjung Pinang development, which E&O says is the island’s first masterplanned seafront development – “a highly sought-after and thriving community to locals as well as expatriates from over 20 nationalities”, the company said.
Shanghai and Hong Kong listed CCCC has the world’s largest capacity for trailing suction hopper dredgers and cutter section dredgers, E&O said, and has experience in Malaysia with the design and construction of the 24-km Sultan Abdul Halim Muadzam Shah Bridge (Penang Second Bridge), Malaysia’s longest bridge.
“To select the reclamation contractor, we went through an extremely rigorous tender process that included the pre-qualification of potential contractors prior to the tender submission,” said E&O group managing director, Dato’ Seri Terry Tham Ka Hon.
The company said efforts to secure financiers for the project will be finalised soon.
Start of work at the site, on the west coast of Peninsular Malaysia, is “targeted by the year-end”, the company said.