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.
See also: GRC doubles FY2025 earnings to $7.4 mil following acquisition of construction business
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.
