KOTA KINBALU: Gamuda Bhd said its joint venture has been appointed contractor for phase one of the Ulu Padas water supply project in Sabah.
The contract was awarded to Upper Padas Power Sdn Bhd, with Gamuda holding a 45% stake in the parent company alongside Sabah Energy Corporation (40%) and Kerjaya Kagum Hitech JV (15%).
Phase one includes building a 350-million-litre-per-day water treatment plant in Beaufort and about 200km of pipelines from Sipitang to Kota Kinabalu.
Construction starts May 2026, with completion in 42 months and water supply expected by 2029.
The project will contribute to Gamuda’s earnings from FY2026 onwards. RM759 million will be paid in stages, with the bulk RM5.22 billion paid upon completion.
Integrated with the 187.5MW Ulu Padas hydro project, the scheme aims to ease Sabah’s long-standing water shortages and support economic growth.
The full project has a planned capacity of 950 million litres daily.
Gamuda’s order book hit a record RM44 billion, with unbilled property sales at RM8 billion.
Net profit for 2QFY2026 rose 5% to RM229.5 million, while revenue grew 10% to RM4.3 billion.
Its shares closed at RM4.42, down 0.9%, and are over 10% lower year-to-date.
