Ssangyong E&C bags three overseas projects worth $280m

Ssangyong Engineering and Construction said Thursday it has won three overseas projects worth $280 million in total.

The company won a contract from the Investment Corp. of Dubai to participate in a large-scale tourist district project in Dubai, United Arab Emirates.

It will build a 14-story hotel, two residential buildings and a 10-story office building. The contract amounts to $170 million.

The company also reached a deal with City Developments Limited, which is under Singapore’s HongLeong Group, to build the condominium ForestWoods at $82 million. Ssangyong E&C will build seven 12-story condominiums which can hold 519 households in total.

It also obtained an order to participate in a government-initiated construction project worth 300 billion won ($254 million) in Equatorial Guinea. Since 2011, the company has bagged 14 projects worth a total of $500 million in the country.

So far, the Korean constructor has carried out 150 construction projects in 20 countries, amounting to $10.2 billion. As of this month, a total of 18 projects are underway. It runs five corporations and 14 overseas offices around the world, the company added.

By Lee Hyun-jeong (rene@heraldcorp.com)