Kumho Industrial’s construction sector, Kumho E&C, has won a project to expand the airport worth $829 million in the Philippines jointly with GS Construction on June 2, the company said recently.
The project to expand the Puerto Princesa Airport on Palawan Island, some 590 km from Manila, will be financed by the EDCF and Philippine government loans, as it involves a variety of work on the airport from building a passenger terminal, cargo terminal, control tower, and the expansion of runways.
Kumho E&C signed an agreement with GS Construction to form a consortium to secure the project in October last year, with Kumho sharing 60 percent and GS Construction taking the remaining 40 percent of the joint venture.
The work on the project is scheduled to start from July and be completed in January 2017 on an EPC basis, Kumho E&C said.
When the project is completed in 30 months, the number of passengers using the airport will rise to 2 million annually from the current 300,000 with the scale of the airport becoming international.
An official of Kumho E&C said the company has become a top builder in the airport construction sector in the world with the company taking care of the control tower construction projects at Dubai International Airport and Abu Dhabi International Airport in succession. They will seek more similar projects in airports in the Philippines this year and after so that the company might be able to graduate from the current workout its been under.
Kumho Engineering & Construction is one of the premium construction companies in Korea with phenomenal records of success over the past 46 years, attributable to technological competence in the areas of airports, logistics infrastructure & SOC construction projects, KIDEA process-leveraging sewage treatment solutions, and housing construction.
Since its foundation in 1967, Kumho E&C has exercised its leadership in a variety of SOC projects including City Air Terminal; ASEM Convention Center; Incheon International Airport; New Gwangju City Hall; and the Construction Section 8 of the Daejeon-Jinju Highway and the Cheonan-Nonsan Highway.
It was awarded the 1st Jang Young-sil Award in March 2002 for the innovative KIDEA sewage treatment plant construction technology. It received the Special Category Award of the 1st Korea Remo-deling Grand Prix; the Korea Architectural Culture Grand Prix in 2004; and the Mana-gement Grand Award in the Productivity Category in 2007 in recognition of its industry-leading technology solutions.
Kumho E&C launched its proprietary apartment brand “Eullim,” which symbolized the ‘harmony between us and neighbors, Mother Nature, and state-of-the-art construction technologies’ in May 2003. “Eullim” is one of the premier apartment brands in Korea, leading the housing market trend in Korea with its upscale brand image, environmentally friendly design, and a focus on harmony with the neighboring environment.
Kumho E&C is also one of the pioneering advocates of ethical management in Korea and was selected as one of the top 10 ethical companies by the Federation of Korea Industries (FKI) in 2004, and received the Korea Ethical Management Grand Award in 2005 and the CSR Korea Award in 2007.
Under its extensive outreach programs divided into social engagement initiatives, culture & art promotion sponsorships, and environmental preservation campaigns, Kumho E&C is engaged in more than 700 volunteer service activities every year and has shown itself to be more than willing to its extend support to the less fortunate.
Kumho E&C has been and will remain dedicated to identifying stable business models, maximizing profitability, reinforcing the soundness of its financials, investing in human resource development, and upgrading business processes in order to return more value to the community as the sponsor of extensive outreach programs.
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