쌍용건설

31km of Coastal Road in Vietnam of a total of 924km that Connects Thailand ~ Cambodia ~ Southern Coast of Vietnam
Construction Contract Worth 51.1 Billion Won, Loans from the Economic Development Cooperation Fund of The Export-Import Bank of Korea
Good Conditions with Advances Received
Expected to Win Additional Construction Contracts for Development of Areas around the Mekong River…Additional Orders Expected
Ssangyong Engineering & Construction Co., Ltd (Chairman, S. Joon Kim) reported that it has recently won a contract worth 47.3 million US dollars (51.1 billion won) to construct a coastal road in Vietnam.

This project that the Ministry of Transport of Vietnam has ordered in partnership with the EDCF (Economic Development Cooperation Fund) of The Export-Import Bank of Korea had to compete with 13 other companies, but finally Ssangyong Engineering & Construction Co., Ltd won the contract because it scored highest in technology and cost competitiveness.

The period of construction is 29 months, and the construction conditions seem to be good considering the advances received before the construction.

The construction area is 31km of coastal road with 36 bridges, which connects Thu Bay with Kenh located in the southern part of Vietnam and which is a part of 924km of the Southern Coastal Corridor Project (SCCP) connecting the Bangkok ~Cambodia~Ca Mau province of Vietnam.

For the six countries of the Mekong River including Vietnam (Thailand, Laos, Vietnam, Cambodia, Myanmar, China Yunnan Sheng), ADB (Asian Development Bank) has lead the infrastructural construction and development of underdeveloped areas, which is expected to lead to more related contracts with the company.

A spokesperson from the company said “it's been 11 years since the completion of building Dami Dam in Vietnam in 2000. We are expecting to get more contracts and other projects related to luxury buildings which is our company’s strong point since there have been construction loans for infrastructure and the economic growth rate has increased 7% on average since 2009.”

In the meantime, Ssangyong Engineering & Construction Co., Ltd has a history of constructing luxury buildings including the Tower of Hanoi and Hotel Sofitel Plaza Hanoi and Dami Dam since its first entry to the Vietnamese construction market in 1995, and it is expanding its business field through re-entry to Malaysia and Vietnam to the Middle East, Africa, Russia, and so on.