Malaysian firm to build substation
Malaysian-based electrical power technology company Pestech International Bhd inked a contract to construct the $7.34M 230 / 11kV Okvau Transmission Substation.
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Malaysia: Malaysian-based electrical power technology company Pestech International Bhd inked a contract to construct the $7.34 M 230 / 11 kV Okvau Transmission Substation, leading Malaysian business publisher reported on 26 March.
The substation will serve the Mondulkiri province-based Okvau Gold Project, which is owned by Australia-listed mining firm Emerald Resources NL.
Pestech told The Edge that the project is the first gold mine transmission substation asset to be undertaken by its subsidiary Pestech (Cambodia) Plc, which commenced on 1 March, and is scheduled to be completed within 12 months.
Emerald Resources NL, through its subsidiary Renaissance Minerals Ltd, expects to extract gold from the Okvau Gold Project in the second quarter of 2021.
“The project will contribute positively towards the revenue and earnings of Pestech in accordance to the stage of project progress to be recognised in the financial years ending June 30, 2020, to June 30, 2021,” it was quoted by The Edge as saying.
Pestech added that it will strive to serve the needs for reliable electricity in the region, which is crucial amid the ongoing virus outbreak.
Source: The Phnom Penh Post