Ssangyong E&C wins roads deals

Ssangyong Engineering & Construction won $750 million in contracts from the Singapore government to build two highways in the country, the company said Wednesday.

The two roads, the N111 and the N102, are part of the North-South Corridor, a highway that runs through the center of island. The bidding was conducted by the country’s Land Transport Authority.

The contract for the construction of the N111 is worth $350 million and will be handled exclusively by Ssangyong. For the N102, the company participated in a joint venture bid. Ssangyong has 85 percent and local Wai Fong Construction has the rest.

The N102 will have six lanes and follow what is considered a tricky course on the 21.5-kilometer (13.4-mile) North-South Corridor, says Ssangyong. It connects Marina Bay to Woodland, running under and around existing infrastructure. At one point, it will run just 1 meter (3.3 feet) from an existing subway line.

The bid was considered to be particularly noteworthy because the company earned high-points in the non-price component of the proposal. It did not offer the lowest price.

“We received a positive assessment in terms of construction capability, technology, safety control and management,” Ssangyong said.

The road deals bring the total value of civil construction contracts in the country to $2.1 billion since 2008.

Ssangyong has received two awards for its performance by the Singapore Land Transport Authority in the last five years.

After winning the two highway projects, Ssangyong’s overseas deals this year now total $1.5 billion.

BY SONG KYOUNG-SON [song.kyoungson@joongang.co.kr ]