9/10/05 KUALA LUMPUR (Dow Jones)--Malaysia's Golden Hope Plantations Bhd.has won a government contract to build one of the country's three biofuelplants, the daily New Straits Times reports. Contracts for the threeplants are worth a total MYR120 million.

A letter of award has been given to Golden Hope by the government to buildthe plant in Port Klang, south of the capital Kuala Lumpur, the dailyadds.

Golden Hope Chief Executive Sabri Ahmad said the plant will take one yearto build, adding that once production starts, crude palm oil prices willget a boost.

The other two companies expected to secure the remaining two biofuel plantcontracts are Fima Bulkers Sdn. Bhd., a unit of Kumpulan Fima Bhd. andprivately held Carotino Sdn. Bhd.

Officials of both companies weren't immediately available for comment.