South Korean construction companies Daewoo Engineering & Construction and Ssangyong Engineering & Construction announced on Sept. 3 that they have signed a formal contract to build Woodlands Health Campus (WHC) hospital in Singapore for US$700 million (782.2 billion won).
The WHC project consigned by Singapore’s Ministry of Health is to build a general hospital on 246,000 square meters of land in the northern Woodlands area. Six buildings with seven stories above ground and four below will hold up to 1,800 beds at facilities such as a hospital for patients who require long-term treatment, specialist clinics for outpatients and a nursing home. This will be a large-scale smart general hospital converging with the state-of-the-art IT technology.
The two companies have formed a joint venture with Singapore’s Koh Brothers Building & Civil Engineering Contractor and worked on to win the project. The construction will take 33 months.
Ssangyong E&C and Daewoo E&C each hold 40 percent stakes in the consortium, with Koh Brothers owning the remainder. Daewoo E&C will receive 311.4 billion won (US$280.04 million) from the deal.