Daebo Construction wins major civil contracts for 4th consecutive year of W1tr in orders

Daebo Construction has secured contracts for the Gyeyang-Ganghwa Expressway and the Asan Tangjeong 2 urban development project in quick succession, pushing its annual order total above 1 trillion won ($723 million) for the fourth consecutive year.

The company announced Tuesday that it had won two major civil engineering contracts worth a combined 520 billion won in September alone, bringing its cumulative orders for the year to about 1.12 trillion won.

On Friday, a Daebo Construction consortium was selected as the preferred bidder for Section 2 of the Gyeyang-Ganghwa Expressway. The contract covers a 5.8-kilometer stretch connecting Pungmu-dong in Gimpo to Geomdan new town in Gimpo, with a total construction cost of 430 billion won.

The Gyeyang-Ganghwa Expressway is a roughly 30-kilometer project linking Sangya-dong in Incheon's Gyeyang-gu to Ganghwa-eup in Ganghwa-gun, passing through Incheon's Geomdan new town and the Gimpo Han River new town. The total project cost is 3 trillion won.

The other contract secured earlier — Section 2 of the Asan Tangjeong 2 urban development project — involves building a mixed-use city with residential, industrial and commercial functions across a roughly 1.71 million-square-meter site in Tangjeong-myeon, Asan, South Chungcheong Province, by 2032. The construction cost is 94.1 billion won.

Daebo Construction has also won several other civil engineering projects this year, including Section 3 of the Gangdong-Hanam-Namyangju metropolitan railway construction project, worth about 280 billion won, and Phase 1 of the Goyang Changneung district heat pipeline project.

On the building side, the company has taken part in public housing projects at Dohwa Block B-3 and Yangju Hoecheon Blocks A-23 and A-4, as well as the construction of Songdam High School and a new Yeoju city hall. It also won contracts for a 274 billion won public knowledge industry center at the Gwangmyeong-Siheung urban high-tech industrial complex and a public housing project at Namyangju Wangsuk 2 Blocks A8 and A12.

Last year, the company secured contracts including Section 3 of the GTX-B line, worth 740 billion won, and site development work for the Yongsan International Business District urban development project.

"We will actively pursue large-scale technology-based bids, including the Yongin National Industrial Complex," a company official said, adding that the company also plans to open a new round of entry-level hiring as its order book grows.

The official added that the company's construction capability ranking rose five places to 47th this year, with its technology capability and project performance ranked 27th and 39th, respectively. "We will work to establish ourselves as a top-10 major construction company in the civil engineering sector," the official said.