Ssangyong E&C wins $280m in deals abroad

Home > Business > Industry

print dictionary print

Ssangyong E&C wins $280m in deals abroad

테스트

Aerial view of the Dubai project tourist complex in the coastal area of Deira. [SSANGYONG E&C]

Ssangyong Engineering & Construction said Friday it landed overseas construction contracts in three countries worth $280 million (330 billion won).

The construction company won a $170 million construction contract with Investment Corporation of Dubai (ICD) to develop the coastal area of Deira into a tourist complex. ICD is Ssangyong E&C’s biggest shareholder. Ssangyong E&C will build a 24-story hotel, 14- and 16-story residences as well as four 10-story office buildings in the district of the Gold Souk, one of the United Arab Emirates’ largest gold markets.

In Singapore, the company secured a construction project from City Developments Limited, a subsidiary of Hong Leong Group, one of the largest private-run holding companies in Singapore.

The $82 million project includes building a condominium complex in Serangoon in the northeast region of the country. The complex will contain seven 14-story buildings that can accommodate 519 households.

In Equatorial Guinea, the company won a state government contract worth 30 billion won ($25 million). Ssangyong E&C moved into the African country in 2011 and has overseen 14 construction projects there, which are worth a total of $500 million.

So far, the company has advanced into 20 countries, carrying out 150 construction orders worth $10.2 billion. It operates 14 overseas branches and five foreign corporations.


BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]

More in Industry

Volvo XC60 ranks No. 1 for residual value in Encar study

Binggrae to scoop up ice cream competitor after FTC approves merger

LG accepting orders for rollable, $85K television

Shinsegae Group chair passes down shares to children

This Chuseok, the gift sets are meaty, boozy and pricey

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now