SFQ Global (01953) has announced that its subsidiary, SFQ Universal Limited, recently entered into an engineering, procurement, and construction contract (EPC contract) for a solar photovoltaic and energy storage system (the Project) located in the Democratic Republic of the Congo.
The total contract amount is approximately US$41.4 million, comprising approximately US$22.3 million for Phase I and approximately US$19.1 million for Phase II.
The scope of work for the Project includes design, procurement of equipment and materials, multimodal transportation to the project site, construction, installation, commissioning, grid connection, performance testing, and related maintenance services.
The Company has been actively exploring new opportunities for business expansion and strategic upgrading. The Company believes that continuing to leverage its strengths in industrial and infrastructure construction projects and breaking away from a single-market layout in Malaysia will serve as a driving force for the Company's further development.
The Company's business development has undergone strategic planning, and it believes that the following business expansion and strategic upgrading directions can further broaden the Company's revenue streams and allow it to enter high-growth industries and regions: (i) while continuing to focus on and develop its current industrial and infrastructure construction business, further concentrating on the new energy power plant construction contracting business to capture the rapid growth opportunities in the new energy power plant EPC market; and (ii) leveraging the Company's and its controlling shareholder's regional advantages in Southeast Asia and Africa to further expand its business regions from Malaysia to other Southeast Asian countries and African regions, thereby diversifying single-market operational risks and opening up broader market space.
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