PETALING JAYA: Tanco Holdings Bhd has bagged two contracts, worth a combined RM41.5mil, for subcontract works for the East Coast Rail Link (ECRL) project.
In a filing with Bursa Malaysia, the company said its unit Tanco Builders Sdn Bhd has received two letters of awards (LOAs) from Sri Medan Holding Sdn Bhd.
The awards involved the construction of subgrade works for Section 2 of the rail link, which borders Kelantan and Terengganu, and the construction and completion of structure works for eight bridges in Besut and Setiu, Terengganu.
Tanco said the rationale for accepting the LOAs is to provide the group with an alternative revenue source by expanding into the construction segment.
“It is also an opportunity to participate in the reactivation of the ECRL project and enable the group to build and strengthen its construction portfolio,” it said.
Tanco managing director Datuk Seri Andrew Tan said: “Tanco Builders is proud to contribute to the construction of ECRL, which is set to act as a catalyst in the post-Covid-19 economic recovery of Malaysia.”