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Ssangyong-led consortium wins order to build industrial complex in Jangan
2007-05-31
A consortium led by Ssangyong Engineering and Construction won a contract worth 20.6 billion won on May 31 from Busan Metropolitan Corp. to build the first stage of an industrial complex in Jangan.
The first stage of the project calls for the Ssangyong-led consortium to build a site of 701,412 square meters for the complex in Banryong-ri, Jangan-eup, Gijang county, Busan city for 30 months. Ssangyong owns a 51 percent stake, or 10.5 billion won, in the consortium.
Busan Metropolitan Corp. will spend a total of 324.4 billion won to build the industrial complex by the end of 2009. Once completed, 92 companies with business interests ranging from auto parts, machines, electronics and telecommunications equipment will be housed. If the companies begin their full operations, the complex is expected to create about 10,000 jobs and 1.37 trillion won in economic benefits.