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.
See: Lian Beng subsidiary wins $117 mil construction contract
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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.
Shares at Lian Beng closed flat at $0.48 today.
