The contract was secured via tender through its 60%-owned subsidiary, United Tec Construction, and is slated to start in August 2019 and is expected to be completed by July 2021.
When completed, the seven-storey ramp-up development will be used by NTUC Fairprice as a centre for the receiving, sorting, storage and distribution of fresh food to its retail outlets.
This project follows a construction contract worth $117 million that was secured by the group’s wholly owned subsidiary, Deenn Engineering Pte Ltd, in March 2019.
With the addition of these recent contracts, Lian Beng’s order book stands at $1.5 billion as at 8 July, and is expected to support the group’s activities through FY2022.
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Shares at Lian Beng closed flat at $0.48 today.
