KUALA LUMPUR (Aug 5): Protasco Bhd has bagged a contract worth RM315.8 million for the construction of a stretch of the Sungai Besi-Ulu Kelang Expressway (SUKE).

In a filing with Bursa Malaysia today, Protasco said its subsidiary, HCM Engineering Sdn Bhd, will undertake the contract jointly with Hatimuda Sdn Bhd on a 40:60 basis.

The contract was offered by Turnpike Synergy Sdn Bhd, a subsidiary unit of Projek Lintasan Kota Holdings Sdn Bhd, which is wholly owned by Permodalan Nasional Bhd.

Protasco did not identify the stretch of the highway it will be constructing, but said the work is expected to be completed within a 30-month period ending Feb 28, 2019.

It expects the contract to have a positive impact on its net assets and earnings for the financial year ending Dec 31, 2016.

Yesterday (Aug 4), two other groups announced they have won contracts to undertake the construction of separate portions of SUKE.

Jaks Resources Bhd's wholly-owned unit Jaks Sdn Bhd bagged a RM508.5 million package, while a consortium comprising Zelan Bhd's wholly-owned subsidiary Zelan Construction Sdn Bhd and Hasrat Sedaya Sdn Bhd won another package worth RM257.61 million.

Shares of Protasco fell 3 sen or 1.94% to close at RM1.52, giving the company a market capitalisation of RM513.18 million.