KUALA LUMPUR: Varia Bhd's subsidiary Mewah Kota Sdn Bhd has bagged a contract from Kator Construction Sdn Bhd to undertake the Klang River flood mitigation project in Seksyen 25, Shah Alam.
The project, valued at RM94.86 million, is set to begin on Feb 1 this year with a completion timeline extending to Jan 31, 2029.
Varia said the five-year job underscores the construction engineering company's robust capabilities and strategic foresight in managing extensive infrastructure projects that serve community needs and contribute to the national infrastructure development agenda.
"The contract marks a pivotal chapter in our journey towards sustainable development.
"This project not only showcases our commitment to technical excellence but also reflects our deep dedication to environmental, social, and governance (ESG) principles," Varia managing director Datuk Benson Lau said in a statement today.
He said by addressing critical flood risks in Shah Alam, the company is not just enhancing infrastructure but also safeguarding communities and nurturing environmental stewardship.
He added that the initiative is a clear manifestation of Varia's ethos to intertwine its growth objectives with the well-being of society and the planet.
"This letter of award reflects Varia's ongoing commitment to excellence and the company's role as a key player in Malaysia's development landscape.
"With a focus on sustainable growth and community welfare, Varia continues to seek opportunities that align with the company's strategic objectives and values," he noted.
Varia's share price was unchanged at 93 sen today with a market capitalisation of RM387.8 million.