쌍용건설

Ssangyong Engineering & Construction (President: S. Joon Kim) is engaged in brisk business activities in the New Year to regain its glory as the leading Korean contractor, particularly in overseas projects.

The company reported that it exclusively won highway construction projects in the North-South Corridor from the National Highway Authority of India for US$157.32 million. The company was awared four packages (package 5, 6, 8, and 9) out of the thirteen packages. Each package will take 30 months to be completed.
The project is to build a 179km highway that crosses from north to south in the state of Madhya Pradesh. The project amount could increase up to US$181 million in case provisional sums are included.It is a mega scale overseas highway construction project in years knowing that the distance between Seoul to Daegu is about 160km. The payment is loaned by Asia Development Bank(ADB), so the work progress payment will be secure.

India has recently emerged as a country with a great potential growth that even rivals with China(Brazil, Russia, India, and China are known as BRICs.) The country is carrying out intensive work to enhance its social overhead capitals and infrastructures such ashighways, harbors, airports and power plants. Large-scale investments have been made every year since the National Highway Development Project was established in 1998.

Ssangyong is the first Korean contractorstepped into the civil engineering market in India. The company successfully completed the 50km Second National Highway in 2001 followed by the 40km Third National Highway in 2005. With the newly-awarded project, it will have a total of 269km of highway construction experience in India alone.

A Ssangyong official said, “This is the first time an Indian government institution awarded as many as four sectors of a highway project to a single contractor. We will positively consider advancing into tunnel, railroad and dam projects as well as BOT(Build-Operate-Transfer)-based highway projects in this country. The newly-awarded project will be the turning point to regain our glory as the leading contractor in overseas construction industry. We will focus on developing new construction markets in the Middle East and Central Asia with a reinforced organization.”

Landmark buildings constructed by Ssangyong E&C include: The Raffles City Complex in Singapore including the 73-story Swissotel The Stamford Hotel which used to be the tallest hotel in the Guinness Book of World Records and the 305m high Emirates Hotel and the Grand Hyatt Hotel, which are two of the three leading hotels in Dubai. The company has built a total of more than 10,000 hotel guestrooms, which is the second best in the world in this area. The total value of the projects it has completed outside Korea comes to $5 billion. The Company is also carrying out the East-Coast Highway Project in Sumatra, Indonesia.