KUALA LUMPUR (Sept 19): Muhibbah Engineering (M) Bhd has secured a RM157 million contract for the design and construction of the conveyor system facilities package for the proposed Samalaju Port Development Project at Samalaju, Sarawak.

Muhibbah told the exchange today it had received the Letter of Acceptance (LoA) for the design, construction and completion of the conveyor system facilities package for phase one works of the Samalaju port from Bintulu Port Holdings Bhd for a total contract value of RM157 million.

The contract is expected to be completed within 22 months from receipt of commencement notice.

Muhibbah said the contract would contribute positively to the earnings and net assets of the group for the current and future financial years.

In March this year, Bintulu Port Holdings Bhd's unit Samalaju Industrial Port Sdn Bhd had awarded a contract worth RM47.53 million to Gabungan Binaan Jurutenaga Sdn Bhd.

The contract is to undertake the electrical works and navigation aids system for phase one for a duration of 24 months.