Construction firm Koh Brothers has won a contract to build the first part of the Punggol Waterway in Punggol Town.
The contract, which is awarded by the Housing and Development Board (HDB), is worth S$144.6 million.
Under the deal, Koh Brothers will build a 2.4-kilometre waterway and its related engineering works in Punggol Town.
The waterway, which will have a promenade on both banks, will be connected to Sungei Punggol.
The Punggol Waterway is part of a larger project by HDB towards making Punggol a vibrant people-centred township.
With the latest deal, Koh Brothers said it would have total contracts-in-hand of over S$690 million.
Work on the project will start next month and is expected to be completed by fourth quarter 2010.
Koh Brothers expects the contact to have a positive material impact on its financial performance for the year ending December 31, 2009.
Source : Channel NewsAsia – 28 Jan 2009