KUALA LUMPUR (May 15): Geotechnical solutions specialist Fibromat (M) Bhd’s (KL:FIBRO) has bagged a RM283.5 million contract from Casa Hartamas Sdn Bhd to serve as the subcontractor for the provision of design and installation solutions.

According to a bourse filing on Thursday, the group said the contract, which was secured by its wholly owned subsidiary MTS Fibromat (M) Sdn Bhd, involves the supply of materials, labour, machinery, and other essential resources for the execution and completion of works related to the Central Spine Road Package 2 and Section 2A.

The project will cover road construction from Sungai Lakit Bridge to Gua Musang and from Sungai Lakit Bridge to Paloh 2.

The contract period is scheduled to span 24 months, beginning on May 15, 2025, and slated for completion on May 14, 2027.

Fibromat said this project will support its broader strategy to expand its footprint in the infrastructure sector.

Having transferred its listing status to the ACE Market from the LEAP Market on May 8 this year, the group specialises in geotechnical services, including erosion control, ground improvement, sediment control and the trading of geosynthetics and related products.

At Thursday’s closing bell, Fibromat shares were unchanged at 50.5 sen, valuing the group at RM125 million.