Samsung C&T lands deal for reclamation in Hong Kong

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Samsung C&T lands deal for reclamation in Hong Kong

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Samsung C&T has landed a Hong Kong land reclamation deal, rendered here.

Samsung C&T Corp., the construction unit of Samsung Group, said Monday it secured a 455 billion won ($420 million) land reclamation project in Hong Kong.

In a joint venture with local company Build King, Samsung C&T received the order from Hong Kong’s Civil Engineering & Development Department to reclaim land from the sea for a new town on northern Lantau Island, the company said in a statement.

The reclamation project begins in January 2018 and will be completed by July 2024, it said.

The value of the overall reclamation project is estimated at $858 million, with Samsung C&T holding a 49 percent stake in the work and the remaining 51 percent held by Build King, it said. Yonhap

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