South Korea-Singapore in $646m Port Project


A US$646 million deal has been secured by Daelim Industrial Co., South Korea’s fourth-largest builder to construct a port facility in Singapore.

Under the deal with the Singaporean Maritime and Port Authority, Daelim will dredge and construct port facilities as part of the first phase of the Tuas Terminal project in the Southeast Asian country.

Daelim has formed a consortium with a Belgian firm for the $1.78 billion contract, according to Hellenic Shipping News.

The South Korean company has also previously won other projects in Singapore, including the Marina Coastal Expressway deal in 2013 and the construction of one of the country’s Mass Rapid Transit lines last year.

The South Korean builder expects the Singaporean port project to take around years to complete.

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