KUALA LUMPUR (March 17): Water and wastewater engineering company Salcon Bhd (KL:SALCON) has secured two wastewater-related contracts worth RM99.8 million.

In a bourse filing on Monday, the group said Envitech Sdn Bhd, a 60%-owned subsidiary of Salcon Engineering Berhad, which is in turn a wholly-owned subsidiary of Salcon, had accepted two letters of award to redevelop wastewater treatment plant and wastewater infrastructure.

The first contract, valued at RM88.8 million, was awarded by Perbadanan Pembangunan Pulau Pinang to build wastewater infrastructure in the Batu Kawan Industrial Park. The project is expected to span over 18 months.

Meanwhile, the second contract was awarded by Binastra Builders Sdn Bhd to redevelop wastewater treatment plant in Cheras worth RM11 million. The project is expected to take about 36 months to complete.

Salcon said both contracts are construction contracts without an option for renewal.

“The projects are expected to contribute positively towards the earnings and net assets of Salcon Group for the financial years ending Dec 31, 2025 to Dec 31, 2026,” the company said.

Salcon specialises in designing, constructing, commissioning, operating, and maintaining water and wastewater treatment plants and related facilities across Asia.

At Monday’s market close, shares of Salcon were up one sen or 3.6% at 29 sen, valuing the company at RM300.3 million. The counter has increased 3.57% this year.