Soilbuild Construction Group has won a construction contract worth $647.5 million, bringing the group’s order books to $1.23 billion.
“We are delighted to have been awarded the project in Tuas Port, which is one of the most prominent industrial projects in Singapore awarded to date this year. It is also the largest construction project won by the group in its history, with a contract value exceeding $600 million,” says Lim Han Ren, executive director of Soilbuild.
“This also marks an important landmark for the group, as the group’s order books is being propelled beyond the $1.2 billion mark for the first time,” he adds.
The group’s wholly-owned subsidiary, SB Procurement, was awarded the contract to construct PSA Supply Chain Hub @ Tuas. The hub consists of warehouse buildings, gate buildings, main intake substation and ancillary buildings at Tuas Port in Singapore.
The development forms part of Tuas Port and will be built to achieve Green Mark Platinum Super Low Energy.
The project is expected to be completed by the third quarter of 2027. The contract secured will not materially impact the group’s consolidated net tangible assets (NTA) per share and earnings per share (EPS) for the FY2024 ending Dec 31.
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Shares in Soilbuild closed 0.3 cents higher or 9.09% up at 3.6 cents on June 13.
