The project is scheduled to be completed by the third quarter of 2027.
Soilbuild Construction Group has won a construction contract valued at $647.5 million, bringing the group’s backlog to $1.23 billion.
“We are delighted to have been awarded the Tuas Port project. It is one of the most significant industrial projects awarded in Singapore this year. It is also the largest construction project won by the group in its history, with a contract value of over $600 million,” said Lim Han Ren, Managing Director of Soilbuild.
“This also represents an important milestone for the Group as the Group’s order book exceeds the $1.2 billion mark for the first time,” he adds.
The Group’s wholly-owned subsidiary, SB Procurement, was awarded the contract to build the PSA Supply Chain Hub @ Tuas. The hub consists of warehouse buildings, gate buildings, a main feeder station and ancillary buildings at the Port of Tuas in Singapore.
The facility is part of the Tuas Port and is to be built with the aim of obtaining the Green Mark Platinum Super Low Energy certificate.
The project is expected to be completed in the third quarter of 2027. The secured contract will not have a material impact on the Group’s consolidated net fixed assets (NTA) per share and earnings per share (EPS) for the fiscal year ending December 31, 2024.
Soilbuild shares closed 0.3 cents higher, or 9.09%, at 3.6 cents on June 13.
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