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SsangYong Engineering & Construction continuously win contracts after comeback from 4-year turn-key hiatus
Won 8.13 billion port turn-key project after 13.27 billion pipe rehabilitation project

Younggwan Kang, Aju Economics = After breaking a 4-year hiatus to return to the turn-key market, which needs the company to head both design and construction, SsangYong E&C is under spotlight again, continuously winning contracts after contracts.

In 25th, SsangYong E&C has announced that the company won 8.13 billion KRW 'Pohang New Harbor swell improvement facility project' after winning 13.27 Billion KRW 'Metropolitan Area Water supply improvement (pipe rehabilitation) project' in May.

SsangYong E&C had won numerous projects in Dubai last year, totaling 16 trillion USD, andhad also won numerous reconstruction&redevelopment projects (Myoenmok Area 6, Dungchon Area 1, Bucheon Goean 3D Area)in domestic private sector. Now SsangYong E&C has successfully re-entered the turn-key sector, completely regaining previous business capability it once had.

The turn-key requires massive initial investment, such as design costs, and supporting technical skills.In Korea, only few of the big construction firms are competing in this field. The company has stated that they had won two consecutive projects by avoiding price war, and concentrating on design.

Commenting on this win, Hanjong Kim, the director of the SsangYong E&C, said that "As the company has successfully re-entered the turn-key biddings, which need technical skills and investments, the company will aggressively participate in highly lucrative future turn-key biddings."

Meanwhile, the company has secured 3 projects in Dubai last December, totaling 16 trillion USD, and 152 million USD urban subway project in Singapore this January. Now the company, with those overseas successes as its basis, is aggressively strengthening domestic civil engineering and housing projects.