쌍용건설

The Company was recently awarded a new construction project in Singapore, which is the largest project ever won in its history and the largest overseas civil engineering work won by a Korean construction business in 2008 in terms of amount.

On October 31, the Company won the order for Marina Coastal Expressway 482 Sector in Singapore for $633 million (= 820 billion won).

The work is for the construction of a 1 km-long, 10-lane highway and a 0.44 km-long entrance ramp on a design-build basis. The work period is for 56 months slated for completion by June 2013.

The estimated work expense per meter comes to 820 million won, compared to 72 million won for the 8-lane underground highway in Pangyo, Seongnam, which was previously the most expensive job. The high work expense is attributed to the characteristics of the work that requires a high level of technological prowess due to the need for the construction of an underground section on an instable reclaimed area.

In the bidding process, a company that offered the lowest price failed to pass the technological evaluation process, showing that the client put technological prowess ahead of price. It is also expected that success in the project will enable the company to win other SOC projects in the city state.

In carrying out the work, the Company will use the JGP (Jet Grouted Pile) technique for formation of a solid 90,000 ㎡ (45 m x 2,000 m x 5~10 m deep) concrete structure by means of high-pressure injection of cement at a level 15 meters below ground. The work also requires 1,100-plus 2 m-long drilled shafts.

A subway will pass under the highway. Thus, the specification requires the construction of a 300 m-long, box-shaped tunnel structure 4~5 meters below the surface.

The Marina Coastal Expressway Project is the first one of the projects pushed ahead by the Land Transport Authority (LTA) of Singapore under a plan for supplementation of the country’s SOC, including roads and subways, with an investment of $40 billion by 2020.

Last July, officials involved, including the LTA Director, paid a visit to the Company’s Chairman Kim Suk-jun. At that time, Mr. Kim Suk-jun took them to the Company’s worksite for the construction of the Expressway Bus Terminal Station (913 Sector) of the Seoul Subway Line-9 only 15 centimeters below Subway Line-3, explaining about the various high-end techniques being used. Impressed, the visitors asked the Company to take part in projects carried out by the LTA.

The Company has carried out the work of building subways in Seoul, Busan, Daegu, Incheon and Gwangju for a total of a 30 km section, which is longer than what was carried out by any other company.

Since it started the construction work in Singapore in 1980, the Company has carried out 34 projects worth $3.7 billion in total in the city state. Currently, the Company is carrying out 3 projects worth $1.4 billion there, including the aforesaid one.

In 2007, the Company hit the headlines, winning the $686 million Marina Bay Sands Hotel Project in Singapore, which was the largest one a Korean company has ever won outside the country.