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[THE INVESTOR] Samsung C&T has received a US$240 million order from Hong Kong International Airport, it announced on Aug. 2.
Under a consortium with local partner, it has won a bid for HKIA’s US$340 million ground improvement project, and its share is 70 percent.
This is the largest single order a South Korean company has won in Hong Kong.
Scheduled to be completed by March 2018, the project is the first phase of the airport’s plan to expand into a three-runway system from the existing two. It requires strengthening the seabed before reclamation of the designated site.
Based on this, the construction and trading arm of Samsung Group will aggressively pursue subsequent projects and secure its footing in Hong Kong’s construction market, the company said.
By Hwang You-mee (glamazon@heraldcorp.com)
Under a consortium with local partner, it has won a bid for HKIA’s US$340 million ground improvement project, and its share is 70 percent.
This is the largest single order a South Korean company has won in Hong Kong.
Scheduled to be completed by March 2018, the project is the first phase of the airport’s plan to expand into a three-runway system from the existing two. It requires strengthening the seabed before reclamation of the designated site.
Based on this, the construction and trading arm of Samsung Group will aggressively pursue subsequent projects and secure its footing in Hong Kong’s construction market, the company said.
By Hwang You-mee (glamazon@heraldcorp.com)
