KUALA LUMPUR (June 22): Minetech Resources Bhd’s unit has secured a RM6.75 million contract for road construction and drainage system and other ancillary works in Kuala Langat, Selangor.

In a filing to the bourse on Thursday (June 22), the company said its wholly-owned subsidiary, Minetech Construction Sdn Bhd secured the contract from Lion Group’s subsidiary Harbour Home Sdn Bhd.

The civil engineering specialist and bituminous products manufacturer said the project, which is expected to be completed within five months from the commencement date, is for part of Phase 1 of the Banting Industrial Park located in Kuala Langat, Selangor.

Minetech added the project is expected to contribute positively to its revenue, earnings and net assets for the financial year ending March 31, 2024.

“We continue to see a steady flow of jobs for the civil engineering business which, together with the bituminous products business, remains key to the company’s growth plans and financial performance,” said executive director Matt Chin.

He added the company was also awarded a roadworks project worth RM2.56 million in May, while Minetech’s venture into renewable energy won it a contract worth RM36.7 million for the development of a 3MW mini hydropower plant in Besut, Terengganu.

Minetech shares closed unchanged at 4 sen, valuing the company at RM61 million.