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Ssangyong E&C Has Reported Outstanding Performance since IDC’s Investment

Ssangyong E&C’s Managing Director Sang Yub Lee, head of the Dubai branch, was ed as the 37^th most influential construction leader in the Middle East.

According to news announced by the industry on June 5, Construction Week, a magazine dedicated to construction-related issues in the Middle East, recently announced the Middle East’s 100 Most Influential Construction Leaders of 2020.

Lee was ranked the 37^th most powerful leader, the highest rank among executives of Korean construction companies. Since accepting the Investment Corporation of Dubai (ICD) as its largest shareholder in 2015, Ssangyong E&C has maintained a successful business in the Middle East.

“In 2019, Ssangyong E&C was awarded a $169m contract from UAE-based Wasl Asset Management Group (Wasl) for Dubai 1 Residence,” Construction Week reported in the article. The magazine also mentioned that Ssangyong E&C was involved in other construction projects in Dubai, including the Andaz Hotel by Hyatt and ICD Brookfield Place.

Construction Week also ranked Dong Wook Park, President and CEO of Hyundai E&C, and Jae Hyun Ahn, President and CEO of SK E&C, as the 81^st and 98^th most influential construction leaders, respectively.

As for President Park, the magazine noted that Hyundai E&C had completed construction work on the Kuwait Sheikh Jaber Causeway sea bridge project. “[The bridge] will serve as the new development ‘gate’ for Kuwait, linking Kuwait City with Silk City, a new development still under construction,” it added.

As for President Ahn, the magazine reported that in February 2019, SK E&C was awarded an EPC contract worth USD 1.2 billion by ADNOC Group, to construct an underground storage facility. With a storage capacity equivalent to 20 times that of a 300,000-ton supertanker, the project is the largest single contract of its kind in the world. 

The top spot went to Yu Tao, President and CEO of the China State Construction and Engineering Corporation Middle East (CSCEC ME). CSCES is the largest construction company in China.