KUALA LUMPUR (March 24): Construction services firm Advancecon Holdings Bhd (KL:ADVCON) said it has secured a RM56.64 million contract for infrastructure works at Ladang Londah in Gemas, Negeri Sembilan.

Under the contract from Fraser & Neave Holdings Bhd (KL:F&N), Advancecon will be responsible for site clearing, earthwork, erosion control, water reservoir embankment, and other works, the company said in an exchange filing on Monday. The contract is expected to be completed within 10 months.

“The project will be executed in multiple phases, focusing on comprehensive site preparation, environmental protection measures and efficient water reservoir embankment construction,” the company said in a separate statement.

The latest contract raised its outstanding jobs on hand to RM729.64 million.

“This contract win is aligned with our growth strategy to strengthen our presence in the civil engineering and construction sector,” said Advancecon group chief executive officer Datuk Phum Ang Kia. “We look forward to supporting F&N in the successful completion of this project."

Shares of Advancecon were trading unchanged at 24 sen, valuing the company at RM140 million following the contract announcement.