Samsung C&T's Construction Division announced on December 25 that the division received an order from Hong Kong's Civil Engineering & Development Department for the construction of Tong Chung New Town in the north of Lantau Island of Hong Kong.
Samsung C&T formed a joint venture with Build King, a local company in Hong Kong and received the letter of award from the client on December 21. Samsung C&T's stake in the total project budget of US$858 million is 49%, US$420 million.
The area to be reclaimed by this project is about 134 hectares, which is about half of the Yeouido area in Seoul. Construction work will kick off in January of 2018 and come to an end in July of 2024.
The project is part of the New Town Development project to address Hong Kong’s housing shortage problem. Through this development project, Tong Chung New Town will be home to about 270,000 people. The development will proceed after dividing the area into the east and west sides. The east side expansion project Samsung C&T will participate in aims to secure a residential area by reclaiming pat of the sea.
This reclamation site has a soft ground area composed of marine clay and there are spatial and technical restrictions such as Tuen Mun-Chek Lap Kok Bridge over the site. Samsung C&T earned trust from the client by presenting its work to improve the ground of Hong Kong International Airport currently in progress in an area near Tung Chung and a method to secure bridge safety.
In addition, participation in the bid for this construction work required the completion of one or more reclamation projects and one or more marine ground improvement projects. Samsung C&T successfully completed the Changi Reclamation project and the Breakwater project for Ulsan New Port and projects to build Container Terminal for Busan New Port and Container Terminal for Incheon New Port with the project for the second-phase of reclamation on Jurong Island in Singapore as a beginning.
Currently, Samsung C&T is improving the ground of Hong Kong International Airport and implementing the Tuas Reclamation project in Singapore.