Soilbuild Construction unit wins $52.9 mil contract

Soilbuild Construction Group's unit secured a $52.9 million contract for additions and alterations to an industrial development.

SB Procurement, a wholly-owned subsidiary of Soilbuild Construction Group has secured a $52.9 million contract for additions and alterations to an industrial development at Boon Lay Planning Area.

The project is for an existing 4-storey single-user industrial development with other ancillary facilities.

Pursuant to the contract, the project is expected to start this month and to be completed by 3Q23.

The contract is not expected to have any material impact on the consolidated net tangible assets per share and consolidated earnings per share of the group for the current financial year ending Dec 31.

Shares in Soilbuild Construction Group closed flat at 6.2 cents on Jan 21.

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