The project is scheduled to last 16 months.
Less than a month earlier, on July 10, GRC won a $242.7 million contract from the Housing & Development Board to build five blocks of flats and amenities.
Separately, on July 23, GRC says that its subsidiary CES Precast, is leasing from Jurong Port a floor of space in a multi-storey ramp-up integrated construction and prefabrication hub.
This space will help GRC expand its precast production capacity and enhance the construction productivity of its prefabrication technology business, the company says.
The lease is for at least 12 years and can stretch till Dec 31 2050. The rate starts at $19 per sqm per month, which works out to at least $247,000 per month for a start.
The lease agreement includes an increase of $1.50 per sqm per month every five years.
GRC shares closed at 7.2 cents on Aug 22, up 9.09% for the day but up 140% year to date.
