쌍용건설

Ssangyong Engineering & Construction will participate in a 19-member (including builders, shipping companies, port operation businesses, financial investors, etc.) consortium to be engaged in a private-fund port development project, the first of its kind ever attempted in Korea.

The Ssangyong Engineering & Construction-led consortium, comprised of seven builders (including Doosan Heavy Industries), three shipping companies (including KMTC), three port operation businesses (including Korea Express) and six financial investors (including the National Pension Corporation, Kyobo Life Insurance and Korea Life Insurance), recently submitted the project proposal for the 600 billion-won Busan New Port South Container Pier work, Phases II through IV, to the Busan Regional Maritime Affairs and Fisheries Office.

This is the first-ever attempt made in Korea to form a consortium comprised of shipping companies and port operation businesses for a private-fund port development project or launch a private-fund new port development project at the proposal from the private sector.

The consortium plans to complete the work for container vessel piers No. 2 through 4 with three berths for 50,000 ton-class vessels by December 2011, following the commencement of the work in January 2007, by putting in a total of about 600 billion won of private funds. The piers will be open for commercial operation in early 2012.

Upon completion of the work, the Busan New Port Container Pier is expected to vie with Shanghai Port on a par footing as a world-class, mammoth-size wharf with a total of 30 berths (13 berths in North Wharf, 11 berths in South Wharf, one multi-purpose wharf and 5 berths in West Wharf).

Ssangyong Engineering & Construction built Sinseondae Wharf, Jaseongdae Wharf and the No.3 Container Pier at Busan New Port in the past and is currently carrying out the work for the private-fund development projects for Daepo Port in Sokcho and Bukhang Port in Incheon.