KUALA LUMPUR: Widad Group Bhd has announced that the Public Works Department has approved the revision of contract value for the upgrading works of Jalan Pelabuhan Utara from Klang Container Terminal to Northport, Port Klang, to RM194.32mil from RM151.8mil previously.

       The construction services company said in a bourse filing that the new contract value was accepted by its wholly owned subsidiary Widad Builders Sdn Bhd on Nov 5.

       The duration of the contract will be 24 months commencing from Oct 10, 2021, and is expected to be funded via internally generated funds and/or external borrowings.

       The contract is expected to contribute positively to the earnings and net assets of Widad over the duration of the project.

       At 12.30pm, shares in Widad were up one sen or 2.74% to 37.5 sen on the back of 20.23 million units traded.