Bintulu Port Holdings Berhad has agreed a contract with Integrated Marine Works Sdn. Bhd. for a large dredging project.
This project, named Capital Dredging And Reclamation Package For Phase 1 Works, will include the construction and completion of the proposed Samalaju Port development project at Samalaju, Bintulu.
The duration of this contract will be six months, nine months, twelve months and thirty six months for Section A, Section B, Section C and Section D respectively from the date of Notice to Commence Work.
0.0219% of the contract sum per calendar day will be imposed as Liquidated and Ascertained Damages for each section for any delay in the performance of the above works.
[mappress]
Source: i3investor, February 20, 2013