Int’l consortium wins $775 million land reclamation project in Singapore

By Park Sae-jin Posted : July 22, 2014, 16:48 Updated : July 22, 2014, 16:48

 

An international consortium, including Hyundai Engineering and Construction (Hyundai E&C), has won a US$775 million land reclamation project in Tuas, the western part of Singapore, the South Korean builder said on Tuesday.

Hyundai E&C holds a 29-percent stake in the Tuas Finger One project, while Samsung C&T and Penta Ocean control 28 percent each. Voskalis and Van Oord, both of the Netherlands, which specialize in reclaiming land from the sea, have a 7.5-percent stake each.

Under the contract awarded by Singapore’s state-run ITC Corp., they will reclaim 1.85 million square meters of land, which will be used as a site for new port facilities.

Completion is due for January 2019.
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