KUALA LUMPUR (Aug 29): Gamuda Bhd (KL:GAMUDA) on Friday announced that its engineering unit had bagged a RM2.138 billion job to build hyperscale data centres in Eco Business Park V, Selangor.

The job for Eco World Development Group Bhd (KL:ECOWLD) unit Quantum Alpha Sdn Bhd will start this quarter (3Q2025) for completion by 3Q2027.

The contract covers building the main structure of two data centre blocks, a power substation, a water reservoir, and related infrastructure and facilities, it said in a filing on Friday.

The award comes shortly after the group announced that it had tied up with Gentari, Petronas’ clean energy arm, to develop 1.5GW of solar and storage projects in Malaysia, aimed at powering hyperscale data centres.

This month, it also announced that a joint venture with Naim Holdings Bhd (KL:NAIM) won a RM1.13 billion contract to develop the Limbang section of the Northern Coastal Highway in Sarawak.

All but one analyst covering the stock have a ‘buy’ call, with an average 12-month target price of RM6.12 a share.

CGS International earlier this month raised its target price for Gamuda to RM7.30, the highest among analysts, citing a slew of contract awards expected in the next six and 12 months.

Gamuda’s share price was down 2.12% to RM5.55 a share, valuing the stock at RM32.2 billion following the announcement on Friday. The stock is up 17.09% year to date.