Global Resource Construction’s (SGX:S3N
) wholly owned subsidiary, CES_SDC, in a joint venture with KTC Civil Engineering & Construction (with CES_SDC as the lead joint venture partner), has been awarded a contract valued at approximately $757 million by the Land Transport Authority.
The contract involves enhancement works to Xilin Avenue, East Coast Parkway and Tanah Merah Coast Road between Laguna Golf Green and Changi Coast Walk in Singapore.
The construction period is expected to be around 84 months, with works scheduled to commence in the third quarter of this year.
The company expects this contract to contribute positively to its net tangible assets and earnings for the financial year ending Dec 31, 2026.
Shares of Global Resource Construction closed 0.8 cents higher, or 7.55% up at 11.4 cents on May 26.
