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Koh Brothers Eco's JV firm secures S$520m contract for maiden tunnelling project
A SUBSIDIARY of Catalist-listed Koh Brothers Eco Engineering Ltd has secured a S$520 million contract from PUB in collaboration with its joint-venture partner Penta-Ocean Construction Co Ltd.
The contract won by Koh Brothers Building & Civil Engineering Contractor Pte Ltd (KBCE) and Penta-Ocean is in relation to the Deep Tunnel Sewerage System (DTSS) Phase 2 project, and marks KBCE's maiden project into tunnelling.
KBCE has mostly focused on construction and hydro-engineering projects.
Both KBCE and Penta-Ocean will be responsible for the design and construction of the tunnels, shafts and other features required under the DTSS Phase 2 project, specifically, relating to the section from South Tunnel at Tuas Road and Industrial Tunnel at Pioneer Road to the Tuas Water Reclamation Plant that will span 10.1 kilometres.
KBCE holds a 35 per cent stake in the JV.
Koh Brothers Eco's CEO Paul Shin said: "We are pleased to have been awarded one of the most prominent infrastructure projects earmarked for this year. Backed by our expertise in civil and hydro-engineering, we look forward to supporting national water agency PUB's plans to expand water infrastructure and capacities in tandem with population growth.
"We will continue to pursue such large-scale projects to strengthen our order book, which has been lifted to S$878.9 million following this project win," he added.
The first phase of DTSS was completed in 2008. During that year, KBCE had completed works at the Changi Water Reclamation Plant.
Koh Brothers Eco closed trading at S$0.084 on Thursday.