OKP Holdings has secured a contract worth $258.3 million from the Land Transport Authority (LTA), for the construction of new cycling path networks in the East Region in Singapore.
OKP’s wholly-owned subsidiary, Or Kim Peow Contractors, will be involved in the design and construction of cycling paths as well as other ancillary works.
The 72-month contract started on May 27, and is expected to be completed by May 26, 2031. This brings OKP’s net construction order book to $735.8 million.
The scope of work includes converting existing footpaths to cycling paths and creating new pedestrian footpaths through careful space planning with stakeholders and landowners.
The works also encompass infrastructure improvements such as grating replacements, retaining walls, drainage enhancements, and cycling path finishes (such as signages, high strength coating and thermoplastic marking).
OKP’s wholly-owned subsidiaries were awarded four LTA contracts for the construction of the cycling path networks, totalling $617.8 million. This includes a $92.9 million contract for the construction of CPN in Western Singapore, a $78.3 million contract covering the regions of Central, Kallang, Bukit Merah and Bukit Timah, and a $188.3 million contract for works across seven towns in the East Region.
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Shares in OKP closed 1 cent higher or 1.399% up at 72.5 cents on May 30.
