IJM Construction Secures RM1.4 Billion Contract to Build NPE2, Marking Start of Construction Phase

KUALA LUMPUR (Nov 6, 2025) — IJM Construction Sdn Bhd, a wholly owned subsidiary of IJM Corp Bhd, has secured a RM1.4 billion design-and-build contract from New Pantai Expressway Sdn Bhd (NPESB) for the development of the New Pantai Highway Extension (NPE2).

The project signifies the transition of the long-planned NPE2 into the active construction phase, with works scheduled to begin in Q4 2025 and completion targeted within 48 months. NPESB, also a subsidiary of IJM Corp, currently operates the existing New Pantai Expressway (NPE).

According to IJM Corp’s statement, the 15km elevated extension will link the Pantai Dalam Toll Plaza on the current NPE to the Jalan Istana Interchange via Jalan Syed Putra, enhancing connectivity between Kuala Lumpur city centre and key suburban corridors such as Bukit Jalil, Subang, and Puchong. The extension will include a new toll plaza to support smoother traffic distribution.

Strengthening IJM’s Record-High Order Book

Following this contract, IJM Construction’s total outstanding order book has reached RM15.2 billion, marking the company’s highest level on record. This includes contributions from international associate projects in the United Kingdom and Singapore.

Domestically, the group’s Malaysian order book now stands at RM9.3 billion, comprising a balanced mix of industrial, commercial, and infrastructure developments. These include large-scale data centre projects and ongoing works across industrial land in Selangor and infrastructure corridors in the Subang area.

“This award moves the NPE2 project from the planning stage into actual delivery,” said IJM Group CEO and Managing Director Datuk Lee Chun Fai.
“It marks our third project valued above RM1 billion this year, following the RM1.4 billion fast-track data centre in Johor and the RM2.1 billion hyperscale data centre in Elmina. Together, these milestones demonstrate our expanding capability across Malaysia’s industrial and infrastructure sectors.”

Supporting Growth in Key Urban and Industrial Corridors

The NPE2 extension is poised to play a major role in improving road connectivity between Kuala Lumpur, Petaling Jaya, and key industrial districts such as Puchong, Subang, and Bukit Jalil. The improved accessibility is expected to benefit not just commuters but also businesses operating in logistics, warehousing, and industrial property developments across the Klang Valley.

The project also reinforces Kuala Lumpur’s position as a key commercial hub, easing traffic flow between central business zones and suburban industrial estates — a move that aligns with Malaysia’s broader infrastructure and economic expansion agenda.

Market Performance

Following the announcement, IJM Corp’s shares closed four sen higher at RM2.50 on Thursday, giving the group a market capitalization of RM9.12 billion.

The continued expansion of IJM Construction’s project portfolio reflects the group’s strong footing in infrastructure delivery and industrial property development, both domestically and abroad, as investor interest in commercial property in KL and industrial projects in Selangor continues to grow.