KUALA LUMPUR (March 9): Advancecon Holdings Bhd (KL:ADVCON) said on Monday it has secured a construction contract worth RM148.4 million.

The job involves earthworks and main infrastructure works for phase 1B of Southern Ibrahim Technopolis (IBTEC) in Kulai, Johor, the company said in an exchange filing. Work will take 19 months beginning April 1, according to a statement on Monday.

The contract “reinforces our technical capabilities in large-scale earthworks and infrastructure works,” said Advancecon managing director Phum Boon Eng.

The addition lifts the company’s jobs on hand to around the RM900 million mark. The latest contract marks Advancecon’s second project win within IBTEC. Last September, it bagged a RM66.9 million contract to carry out earthworks and related tasks for phase one of IBTEC.

IBTEC is a large 7,290-acre township in Johor and forms part of the Johor-Singapore Special Economic Zone aimed at boosting cross-border investment, digital infrastructure and urban growth.

A letter of acceptance for the latest contract was received by its wholly-owned Advancecon Infra Sdn Bhd from Johor Corp’s JLG Technopark Sdn Bhd.

Shares of Advancecon ended unchanged at 19 sen, valuing the company at RM111.1 million ahead of the contract announcement.