By DayakDaily Team
KUCHING, Aug 26: A joint venture (JV) between Gamuda Bhd (Gamuda) and Sarawak property developer Naim Holdings Bhd (Naim) has clinched a RM1.13 billion contract to develop the Limbang section of the Northern Coastal Highway in Sarawak.
According to The Edge Malaysia, in a filing with Bursa Malaysia on Friday, Gamuda said the project was awarded to its 30 per cent-owned associate company, Naim Gamuda (NAGA) JV Sdn Bhd, by the Regional Corridor Development Authority (RECODA), a Sarawak government agency. Naim Holdings holds the remaining 70 per cent in Naim Gamuda.
The project involves building a 14.7km four-lane dual carriageway in Limbang, complete with bridges, a flyover, earthworks, and other related works, and is scheduled to be completed within four years.
It is expected to improve connectivity, drive socio-economic growth in the northern region of the State, and strengthen regional trade and investment links between Sarawak, Sabah, and Brunei Darussalam.
The Limbang package is part of the broader Northern Coastal Highway project, an 87.96km route aimed at linking key cities and towns such as Miri, Limbang, and Lawas through an alternative domestic corridor that bypasses Brunei, removing the need for four immigration checks along the current Miri-Temburong-Limbang route.
In full, the project includes the following:
- 87.96km of new highway
- 10.16km of access roads
- 13 bridges, including two iconic structures over Sungai Limbang and Kuala Lawas
- 44 bus stops, eight pedestrian bridges, and four rest and service areas
According to Sarawak Deputy Premier Datuk Amar Awang Tengah Ali Hasan, Phase 1 of the highway, covering three sections in Limbang (44.46km) and two in Lawas (43.5km), is expected to be completed by 2030. The RM6 billion project will be fully funded by the Sarawak government.
The Northern Coastal Highway is also expected to complement the Pan Borneo Highway, creating a vital connection across Sarawak’s central and southern regions while providing seamless access to Sabah and Brunei via the Merapok border.
Gamuda’s share price closed 0.88 per cent or five sen lower at RM5.65 a share on Monday, giving it a market capitalisation of RM32.75 billion. Naim Holdings closed 1.69 per cent or 1.5 sen lower at 87 sen a share, giving it a market capitalisation of RM444.49 million. — DayakDaily
