KNM Group: Unit Gets GBP450 Million Deal To Develop Waste Recycling Project

KUALA LUMPUR (Dow Jones)--KNM Group Bhd. (7164.KU) said Tuesday that its unit, KNM Process Systems Sdn. Bhd., has received a GBP450 million (MYR2.20 billion) contract from Peterborough Renewable Energy Ltd. to develop an 80-megawatt biomass and waste recycling centre project.

The company said the contract is for four years from the start of the project, which will be located in Peterborough in the U.K.

The contract is "expected to contribute positively to KNM Group's earnings" for the next four financial years, the company said in an exchange filing.

-By Ankur Relia; Dow Jones Newswires; 603-2026-1233; ankur.relia@dowjones.com

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