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Ssangyong E&C wins US$750 mln orders in Singapore

기사승인 2018.12.27  09:47:47

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Ssangyong Engineering & Construction Co. said Wednesday it has won orders worth US$750 million in Singapore to build expressways that connect the northern and southern parts of the country.

Under the contract with Singapore's Land Transport Authority, the South Korean builder will take part in the construction of the N102 and N111 areas of the North-South Corridor.

The company is the sole winner for the construction of the N111 zone, with the size of the deal estimated at $400 million.

This image provided by Ssangyong Engineering & Construction Co. on Dec. 26, 2018, shows a map of the North-South Corridor which is set to be built in Singapore.

Ssangyong also joined forces with Singapore-based Wai-Fong for the N102 zone, with the South Korean firm taking up 85 percent of the stake in the segment worth $350 million.

The expressways are anticipated to be completed in November 2026.

Since 2008, Ssangyong has won $2.1 billion worth of projects from Singapore.

Other major South Korean companies are also taking part in the 21.5-kilometer long North-South Corridor project valued at some $5 billion.

Samsung C&T Corp. won the N106 zone in November 2017, following the N107 zone in May earlier this year, at $439 million and $590 million, respectively.

Another South Korean GS Engineering & Construction also won the N101 zone at $463 million. (yonhap)

Kim Sua edt@koreapost.com

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