BUSINESS

Ssangyong E&C wins W850b expressway project in Singapore

By Kim Da-sol
  • Published : Dec 27, 2018 - 14:32
  • Updated : Dec 27, 2018 - 14:32

South Korean builder Ssangyong Engineering & Construction has obtained an 850 billion-won ($750 million) contract to expand an expressway in Singapore, according to the firm on Thursday.

The project involves building the N102 and N111 sections of road for the North-South Corridor project of Singapore’s Land Transport Authority. 

Ssangyong E&C won an exclusive 400 billion-won deal for the N111 section. It also won a 350 billion-won deal for the N102 section via a joint venture with Singaporean construction company Wai Fong. Ssangyong E&C owns an 85 percent stake in the joint venture. 

The North-South Corridor project will build a 21.5-kilometer expressway connecting Marina Bay in Singapore’s city center to the Woodlands area in the north. 

The company aims to complete construction by November 2026. 

The firm said it scored highly in the category of price quality method, an evaluation method reviewing building capability, technical skills, safety management capability and management assessment. 

“Although we did not offer the lowest price, we won the contract based on our expertise and trust in high-quality construction,” said Lee Jong-hyun, director in charge of overseas civil engineering at Ssangyong E&C.

By Kim Da-sol (ddd@heraldcorp.com)


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