By Sharen Kaur
sharen@nstp.com.my
Published in NST on April 26, 2012
sharen@nstp.com.my
Published in NST on April 26, 2012
ON TRACK: Scomi to form consortium with Malaysian players to bid for second monorail project in Sao Paulo
Scomi made a bid for a second monorail job in Sao Paulo last year but lost out to Canada’s Bombardier Inc.
For the latest project in Sao Paulo, Scomi Brazil country president Hilmy Zaini Zainal told Business Times the company was preparing to submit a bid for the job in the current quarter.
“The tender closes end-June and we will form a consortium with local players to bid for the job,” Hilmy said.
Hilmy said Scomi was eyeing more rail projects in Brazil, including the 350km high-speed rail project linking Sao Paulo to Rio de Janeiro, estimated to worth around US$25 billion (RM76.5 billion).
“We are keen to participate in the high-speed rail project, especially in the systems portion or sub-systems work. We plan to form a consortium and bid for the works.”
Hilmy said several monorail projects would be coming up in Brazil over the next 24 months and Scomi would be submitting bids through joint ventures with locals.
“Brazil is an exciting market. We aim to be a long-term player here,” Hilmy said.
According to Brasell Gestao Empresarial vice-president Halan Lemos Moreira, the Brazilian state and federal governments had allocated US$50 billion to boost transportation in Brazil over the next three years.
“Our target is to secure at least one monorail project a year in Brazil. In Sao Paulo alone, there are potentials for five more monorail projects.
This is in addition to the two jobs already awarded to Scomi and Bombardier,” he said.
Scomi had earlier signed a non-binding memorandum of understanding with Brasell and Montagens e Projetos Especiais SA (MPE) to set up a joint-venture company to manufacture and assemble rolling stocks in Brazil, as well as to pursue other rail-related services projects there.
In a statement to Bursa Malaysia yesterday, Scomi said it had, together with MPE and Brasell, also applied for the registration of a limited liability joint-venture (JV) company in Amazonas state, Brazil.
The JV company, to be known as Quark Fabricacao de Equipamentos Ferroviarios e Servicos de Engenharia Ltda, will have a capital of R$1 million (RM1.63 million), divided into one million quotas, at one Real each. Scomi will hold 40 per cent equity in the company, with MPE holding 55 per cent and Brasell five per cent.
The investment in the JV company will be funded by Scomi, MPE and Brasell in proportion to their respective equity holding.
“The JV company will carry out manufacturing, assembly and marketing of monorail rolling stock, providing rail-related engineering services such as maintenance, repair, assembly and installation, and, marketing rail related systems and services.
“The incorporation of the JV company does not have a material impact on the earnings or net assets of Scomi Engineering group for the financial year ending December 31 2012,” it said.
KUALA LUMPUR: SCOMI Engineering Bhd, a 67 per cent-owned subsidiary of Scomi Group Bhd, is eyeing a new monorail project in Brazil, which is estimated to be worth more than RM2.5 billion.
While details on the project are sketchy, it is understood the 20km monorail job is in Sao Paulo.
If awarded the contract, it would be the second monorail project for Scomi in Sao Paulo.
Scomi had won two monorail projects in Brazil – in Sao Paulo and Manues – over the past year. They are worth a combined RM5.2 billion.
While details on the project are sketchy, it is understood the 20km monorail job is in Sao Paulo.
If awarded the contract, it would be the second monorail project for Scomi in Sao Paulo.
Scomi had won two monorail projects in Brazil – in Sao Paulo and Manues – over the past year. They are worth a combined RM5.2 billion.
For the latest project in Sao Paulo, Scomi Brazil country president Hilmy Zaini Zainal told Business Times the company was preparing to submit a bid for the job in the current quarter.
“The tender closes end-June and we will form a consortium with local players to bid for the job,” Hilmy said.
Hilmy said Scomi was eyeing more rail projects in Brazil, including the 350km high-speed rail project linking Sao Paulo to Rio de Janeiro, estimated to worth around US$25 billion (RM76.5 billion).
“We are keen to participate in the high-speed rail project, especially in the systems portion or sub-systems work. We plan to form a consortium and bid for the works.”
Hilmy said several monorail projects would be coming up in Brazil over the next 24 months and Scomi would be submitting bids through joint ventures with locals.
“Brazil is an exciting market. We aim to be a long-term player here,” Hilmy said.
According to Brasell Gestao Empresarial vice-president Halan Lemos Moreira, the Brazilian state and federal governments had allocated US$50 billion to boost transportation in Brazil over the next three years.
“Our target is to secure at least one monorail project a year in Brazil. In Sao Paulo alone, there are potentials for five more monorail projects.
This is in addition to the two jobs already awarded to Scomi and Bombardier,” he said.
Scomi had earlier signed a non-binding memorandum of understanding with Brasell and Montagens e Projetos Especiais SA (MPE) to set up a joint-venture company to manufacture and assemble rolling stocks in Brazil, as well as to pursue other rail-related services projects there.
In a statement to Bursa Malaysia yesterday, Scomi said it had, together with MPE and Brasell, also applied for the registration of a limited liability joint-venture (JV) company in Amazonas state, Brazil.
The JV company, to be known as Quark Fabricacao de Equipamentos Ferroviarios e Servicos de Engenharia Ltda, will have a capital of R$1 million (RM1.63 million), divided into one million quotas, at one Real each. Scomi will hold 40 per cent equity in the company, with MPE holding 55 per cent and Brasell five per cent.
The investment in the JV company will be funded by Scomi, MPE and Brasell in proportion to their respective equity holding.
“The JV company will carry out manufacturing, assembly and marketing of monorail rolling stock, providing rail-related engineering services such as maintenance, repair, assembly and installation, and, marketing rail related systems and services.
“The incorporation of the JV company does not have a material impact on the earnings or net assets of Scomi Engineering group for the financial year ending December 31 2012,” it said.
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