Foreign & Domestic
GS Engineering & Construction announced on June 22 that it has won two contracts to build a plant and infrastructure at home and abroad, respectively. The deals amount to a total of 667.6 billion won (US$606.74 million).
The 311.3 billion won (US$282.92 million) domestic project is ONE-Project, which was ordered by Korea Petrochemical Ind. Co., Ltd., to build additional petrochemical plants in its plant in Ulsan City with a construction period of 22 months.
The overseas deal that GS E&C has won is a US$320 million (356.3 billion won) T3008 project that has been ordered by Singapore’s Land Transport Authority (LTA).
The project is to involve in the groundwork for the depot to be built on the 43 km long Thomson-East Coast Line which connects Woodlands, northern Singapore, and Changi Airport. GS E&C will have sole responsibility for the project, and the construction will be completed by March 2018 within 33 months.
Meanwhile, GS E&C has received the highest “Star” rating in the Green & Gracious Builder Scheme (GGBS) conducted by Singapore’s LTA in May, and also received additional points to win the deal.
GS E&C has won and is building a total of five projects ordered by Sinapore’s LTA, including four projects in the Downtown Line of the subway construction started in 2009 and 2011, and a Thomson Line project in 2013, which is worth 1.5 trillion won (US$1.36 billion). With the contract this time, the company has won a total of six deals for subway construction alone in Singapore, being recognized for its technology in the infrastructure sector.