Kuala lumpur: Gamuda Bhd shares edged up 0.52 per cent this morning after the group announced it had secured a RM3.30 billion contract for the Kaohsiung Metropolitan Mass Rapid Transit (MRT) project in Taiwan. As of 10.46 am, the stock rose five sen to RM4.58, with 4.53 million shares traded.

According to BERNAMA News Agency, in a Bursa Malaysia filing today, the engineering and construction group stated that the project was awarded by the Taiwan Kaohsiung City Government Mass Rapid Transit Bureau. This marks Gamuda's 10th infrastructure project win in Taiwan, highlighting its continued expansion in the region.

The contract has been awarded to an unincorporated joint venture between Gamuda, which holds a 70 per cent stake, and Taiwan-based Shang Ting, which holds the remaining 30 per cent stake. Gamuda reported that its share of the contract value amounts to RM2.31 billion, signifying a substantial investment in their portion of the project.

The project, which is anticipated to span over seven years and four months, involves the construction of three underground stations, one elevated station, 3.88 kilometres of underground twin-bound railway tracks, and six cross passages. This development is expected to enhance the mass transit infrastructure in Kaohsiung, contributing to improved connectivity and urban mobility.