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[Market Now] Dong-Ah Geological secures orders for Samsung C&T’s subway construction
By Park Hyung-kiPublished : April 12, 2016 - 11:49
Dong-Ah Geological Engineering, a listed tunnel construction company, has secured a contract to provide tunnel excavation services to Samsung C&T for the construction of the third phase of Seoul Subway Line No. 9.
Dong-Ah will be using its shield tunnel boring machine method for the No. 9 subway tunnel construction under the contract worth about 10.7 billion won ($9.35 million), or about 4 percent of the company’s sales, according to a regulatory filing.
The company is obligated to carry out the tunnel project by July next year.
Construction orders from Samsung C&T, a construction giant of Samsung Group, account for about 8 percent of Dong-Ah’s annual sales. Dong-Ah’s biggest customers include Daewoo Engineering & Construction and Daelim Industrial. Dong-Ah chairman Lee Jung-woo is the owner of the company with a 30.5 percent stake.
By Park Hyong-ki (hkp@heraldcorp.com)
Dong-Ah will be using its shield tunnel boring machine method for the No. 9 subway tunnel construction under the contract worth about 10.7 billion won ($9.35 million), or about 4 percent of the company’s sales, according to a regulatory filing.
The company is obligated to carry out the tunnel project by July next year.
Construction orders from Samsung C&T, a construction giant of Samsung Group, account for about 8 percent of Dong-Ah’s annual sales. Dong-Ah’s biggest customers include Daewoo Engineering & Construction and Daelim Industrial. Dong-Ah chairman Lee Jung-woo is the owner of the company with a 30.5 percent stake.
By Park Hyong-ki (hkp@heraldcorp.com)
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