Federal Int’l 2000 associate to start on Myanmar project

SINGAPORE (Oct 7): Federal International (2000), says its 20.66%-owned associate, PT Gunanusa Utama Fabricators (PTG), has received confirmation from PTTEP International to proceed with Lot 2 of the Zawtika Development Project Phase 1C in Myanmar.

In a Friday statement, Federal International says its order book is expected to increase to about $140 million with the inclusion of Lot 2. The group will be supporting PTG in terms of procurement, management and other ancillary support services for the project.

Lot 1 of the project is valued at about US$155 million ($213 million), while the value of Lot 2 is approximately US$150 million to make up a total aggregate value of about US$305 million.

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