BBR registers joint venture for Cross Island Line project

BBR Holdings said in a bourse filing late on Monday (Mar 28) that its wholly-owned subsidiary Singapore Engineering & Construction has registered a joint venture partnership with Sinohydro Corporation.

Both companies each hold a 50 per cent stake in the joint venture called Sinohydro-Singapore Engineering & Construction, which will take on the design and construction of the Pasir Ris East train station, under the first phase of the construction of the new Cross Island Line.

The joint venture has no capital contribution currently and its main principal activity is the construction of a building, tunnel road and other civil engineering projects.

BBR said this investment is not expected to have any material impact on the company's earnings or its net assets for the current financial year ending Dec 31, 2022.

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