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Ibraco Bhd has signed a Kuching Urban Transport System (KUTS) infrastructure project contract worth RM568.81 million with China Railway Group. The project was won by companies such as Ibraco Construction and China Railway Group Corporation, and the project implementer was Sarawak Metro Rail Sdn Bhd (SMSB).
The KUTS project aims to transform Kuching into a vibrant and competitive city by introducing autonomous rapid transit to provide user-friendly mobility services in the greater Kuching area. The first phase of the project will run from Rembus to Stutong and is expected to be completed by the end of 2025. Ibraco said the project will be funded through internal funds and external borrowings and is expected to contribute positively to the company’s earnings and net assets.
(Source: theedgemalaysia Image source: freepik)
