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Ssangyong wins $46.5 mil. deal from India
2001-01-17
Ssangyong Engineering and Construction has won an order to build a highway in India valued at $46.5 million or 60 billion won, officials said yesterday.
Commissioned by the National Highway Authority of India, Ssangyong will expand a two-way expressway in Aurangabad, in the state of Bihar, into a four lane one. A 40 km section, the expressway links New Delhi and Calcutta. The order requires building 16 bridges in between the two cities.
The construction, which is expected to start in March, will take an estimated three years to complete.
The order comes at a time when Korean builers are having defficulty in winning overseas orders due to their low credit status.
An official attributed Ssangyong""s luck to India""s satisfaction with another highway project in the state of Madhya Pradesh that the Korean firm was involved in.
The "Second National Highway" project is awaiting completion in March.
The official said that India is a market with a lot of potential orders in the near future. The Indian government is drawing up plans to expand social infrastructure on a large scale. Under the plan, India will place an order to build a four lane expressway spanning 1,200 kilos, about three times the length of Kyungbu Expressway.
<; Source: Korea Herald >;