Widad Group Bhd has secured a RM116.8 million contract for the construction and completion of Tok Bali Industrial Park in Kelantan for the East Coast Economic Region Development Council (ECERDC).
The phase 1A of the project was awarded by East Coast Economic Region Development Sdn Bhd (ECERD) on Nov 20 to Widad's wholly-owned subsidiary Widad Builders Sdn Bhd (WBSB).
Widad, specialising in construction and integrated facilities management, will manage the project located in Mukim Gong Kulim, in Semerak, Jajahan Pasir Puteh in Kelantan.
The contract spans 156 weeks, starting from Dec 4 and is anticipated to be funded through a blend of Widad's internally generated funds and external borrowings.
In today's trading, Widad shares closed at 46.5 sen, up 5 sen (1.1%) with a market capitalisation of RM1.440 million.