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SK E&C wins $640 mn road deal in Hong Kong

2018.01.11 14:58:43 | 2018.01.11 16:11:59
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[Photo provided by SK Engineering & Construction Co.]

[Photo provided by SK Engineering & Construction Co.]

SK Engineering & Construction Co. (SK E&C), a construction affiliate of South Korea’s major conglomerate SK Group, has won a $640 million worth deal to build an underpass and shift a road in Hong Kong, the first overseas deal for the company this year.

SK E&C said on Thursday it has obtained an order from Hong Kong’s road management department to build a six-lane underpass in the Yau Ma Tei East section, part of the Central Kowloon Route highway project, in a consortium with Hong Kong’s Build King. The Korean company holds a 40 percent stake in the $640 million worth project, according the company.

The latest deal is SK E&C’s first overseas order for this year as well as its first inroad into Hong Kong. The company aims to bag more deals this year after winning a total of 9 trillion won ($8.4 billion) worth deals last year at home and abroad.

The Korean company aims to complete the construction in 84 months from its commencement date. It won the deal on an engineering, procurement, and construction (EPC) basis and it will not only build the underpass but also move the existing overpass. The company expected that the underpass would help greatly ease the traffic congestion in Hong Kong once its construction is completed.

Before the latest order, SK E&C has successfully completed building Eurasia Tunnel and 3rd Bosphorus Bridge in Turkey and Sentosa Tunnel in Singapore.

By Kim Gang-rae and Lee Ha-yeon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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