쌍용건설

Increase in the domestic/ overseas contracts calls in for more workers

“With the potential fueled by our experiences we gained around the world building landmarks, and with the pride we have as SsangYong E&C workers laying as bedrock, let us once again rebuild our company on that rock this year.” (From Chairman Kim’s New Year Address)

SsangYong E&C is leaping forward in re-gaining the title ‘Construction Expert’ after the discharge of receivership in March this year. The company is gaining vitality once again with the increasing domestic/ overseas contracts, and with new recruitments along with the returning workers.

According to the reports from the construction industry, SsangYong E&C was chosen as a constructor for Urban Environment Improvement Project of Bu-Chun So-Sa New town Guean Sector 3D. This project includes construction of apartments and facilities for 794 households in the So-Sa district, and the total construction cost is estimated to be about KRW 125 billion. Earlier in October this year, the company successfully won a contract for reconstruction of Deung-Chon sector 1 of Kang Seo district.

Recently, the company won 2 remodeling contracts one after another. One is Woo Sung apartment 3rd block of Pyung Chon, and the other is Dun Chon Hyundai in Kang Dong district. SsangYong E&C is entering a new era of housing business with these new contracts after M&A with the Investment Corporation of Dubai (ICD) earlier this year.

News of long-waited overseas contracts was heard as well. The company won contracts for 3 overseas constructions which include ‘Royal Atlantis Hotel’ that ICD ordered, ‘Palm Gateway’ multipurpose building, and ‘A Project’ office building that amount to 1.6 billion US dollars in total. SsangYong E&C holds US 730 million dollars for its share. This is the first overseas project that the company took since the merger. Also, it is noticeable that the company is holding similar proportion of the construction as other major investment/construction companies such as BESIX and CSCEC. Advanced construction techniques showed in the construction of Marina Bay Sands of Singapore and State Tower Nam-San prove once again that SsangYong E&C has more than enough potential.

Since the foundation in 1977, the company participated in more than 144 construction projects worth of 10 billion dollars in more than 20 countries including Singapore, UAE, America, Japan, Africa, etc., SsangYong E&C won Good Design award 7 years straight since 2006, and has won Singapore Construction Award 7 years straight since 2009.

All these signs of growing potential are giving green lights to recruitment for more workers. 78 new recruits ? including 2 Arabic specialists ? were added to the company this March. The company is seeking for experienced workers alongside returning workers and 100 workers have joined the crew so far, meaning that the company is expanding its horizon. Credit rating for the company has been upgraded three times this year alone since March, giving the company the right to enter a bid.

Future looks bright for the company. SsangYong E&C is putting every effort it can spare on winning a contract for a mega size construction in Singapore. Furthermore, expectations are high for ICD’s self-ordered construction projects and the 2020 Dubai Expo related contracts. Domestically, the company is working on installment sale for the apartments which is in about 4 years since the sales of Ye-Ga of Ul-San in 2012.