Samsung C&T, the construction and trading arm of Samsung Group, has won an order worth $678 million to build a commercial complex in Mumbai, India, the company said Wednesday.
Samsung C&T inked the deal with Reliance Industries, India’s third-most valuable company, for the construction of the Dhirubhai Ambani International Convention and Exhibition Center.
The DAICEC is a mixed-use development project located in the heart of the Bandra Kurla Complex, a commercial complex in the suburbs of Mumbai. Covering 75,000 square meters of land, it will house a convention and exhibition center, auditorium, cultural plaza, apartments and office block.
|A rendering of the Dhirubhai Ambani International Convention and Exhibition Center in Mumbai, India. (Samsung C&T)|
Construction of the commercial complex is expected to be completed by 2017, Samsung said.
“Samsung C&T has a wealth of global experience in various building projects along with a strong record of safety and quality. We look forward to working on the project with our partners to stimulate economic growth in the region,” said a Samsung C&T executive. He also noted that India is a fast-emerging market for new buildings, most of which are industrial and medical complexes.
This is the second time for the South Korean construction firm to secure a contract to build a landmark edifice in Mumbai after winning an order from Oberoi Realty for constructing another high-rise project comprising a residential tower, commercial office space and hotel in Mumbai’s Worli area.
The firm has also been involved with the construction of some of the world’s tallest landmark buildings such as Petronas Tower in Malaysia and the Burj Khalifa in the United Arab Emirates.
By Park Han-na (email@example.com)