Ssangyong E&C wins Donghae New Port coal terminal contract

Ssangyong Engineering & Construction announced Tuesday that it had secured the contract for the Donghae New Port coal terminal construction project, awarded by the Public Procurement Service on June 23.

The project calls for building a coal terminal capable of berthing large vessels of up to 100,000 deadweight tons off the coast of Guho-dong in Donghae, Gangwon Province. The total contract value is 101 billion won ($65.5 million).

Ssangyong Engineering & Construction cleared both the comprehensive evaluation and construction-plan review stages of the competitive bidding process to be named the final awardee. The construction period is 60 months from the ground-breaking date.

The win adds to the company's port construction track record, following last year's contract for the Anheung Outer Harbor mooring facility. The accumulated experience in building large-vessel berthing facilities is expected to sharpen its competitiveness in the domestic port and marine civil engineering market going forward.

The contract is also the third major civil infrastructure award this year, coming after two sections of the Southern Inland Railway project worth about 443 billion won, and further demonstrates Ssangyong Engineering & Construction's ability to compete for public infrastructure work.

"Drawing on the technical expertise and construction experience we have built up in port and maritime infrastructure, we will successfully deliver a high-quality, safe port facility and contribute to enhancing the nation's logistics competitiveness," a company official said.

Ssangyong Engineering & Construction has also been expanding its overseas order book. In February, it won a $240 million contract for Phase 5 of the Kifaf Residence development project in Dubai, and in Equatorial Guinea it secured contracts for a presidential residence worth $50 million and a presidential office building in Mongomo worth $20 million.