[Sponsored Report] Samsung C&T: innovatively expanding

Samsung C&T’s Shuweihat S2 Independent Water and Power Project site in Abu Dhabi, the United Arab Emirates.

Samsung C&T is innovatively expanding its company concept as a total service provider to engineering, procurement, construction, operation and management and value chain to provide service in the entire field. By these means, the company is planning to discover new venues in the overseas market and become a global leader.

The effort of Samsung C&T to expand the value chain has resulted in it being awarded the Qurrayah power plant construction project in 2011, the world’s largest scale gas fired power plant. The EPC business scale alone is $2.1 billion.

Samsung C&T is developing its 23 strategic products from the realms of super-tall high rises, road & bridge, harbor & marine, power generation, hydrocarbon, nuclear power, urban development, high-tech facilities, health care and aviation into number one products in the global market. Furthermore, the company is actively expanding its product portfolio in energy storage facility, solar energy and wind energy.

In the construction field, the company is being awarded many projects through the preconstruction service of skyscrapers based on its technology and construction ability for tall buildings and high-tech buildings. In addition, through continuous technology development, the company is expanding the market in nontypical, high-tech and environmentally friendly constructions.

Samsung C&T started 2012 with the news that it had been awarded the $296 million Lusail Road Construction Project on Jan. 4, marking the beginning of another market diversity project. Based on this project the business model of Samsung C&T is not only changing but actively diversifying its portfolio in the region.

The company plans to achieve more visible results by expanding the market, currently concentrated in UAE and Singapore, to nearby countries.

In the Middle East region it will expand Saudi Arabia, Kuwait and Qatar and, from its previous hub of Singapore, to Indonesia and Malaysia. The company will strengthen its market power in its strongholds and at the same time expand into the strategic areas around the world like North Africa, Southwest Asia, Central Asia and South America. The company is also carefully aiming to win leading projects in the advance markets of North America and Europe, where other Korean companies are floundering.

By Lee Ji-hyun [concordia@joongang.co.kr]