Hanshin Engineering and Construction Co. (Hanshin E&C) and its consortium won an open bidding for the No. 7 section railroad-bed project. It consists of a double line for the electric railroad that links Dodam and Yeongcheon, near Andong, in North Gyeongsang Province.
The project is to be conducted between Nov. 11, 2015 to Nov. 9, 2019 at a cost of 1.052 trillion won, with Hanshin E&C taking charge of 60 percent of the project, while Kukdong Construction works on 30 percent and Changseong Construction takes on the remaining 10 percent.
The total distance of the double-line electric railroad breaks down to 2.398 km of civil work, eight bridges stretching for 1.716 km and 4.361 km of tunnels.
Han Ki-hong is in charge of Hanshin E&C’s project section. He is a veteran civil engineering technician with a first-class license for construction safety. He was born in Cheongyang, South Chungcheong Province, in 1965.
During his 25-year career working in the construction industry, particularly the civil engineering sector, he has been engaged in various civil engineering construction projects. Notable ones include the Suseo Interchange circulatory road construction project; the highway expansion project linking Kangjin and Janghung, South Jeolla Province; the highway construction linking Kuirae and Maji; the road repair project between Hyunai and Songhyunjin, South Jeolla Province; the No. 2 Freedom Road Nos. 1-3 projects; and the Sihung, and Janghyun periphery road repair project in Gyeonggi Province.
Han said he always wanted to work on a project involving railroads. He promised to do his best to complete the project on time as if it were his last job before retiring from the company.
Hanshin Construction Co., Ltd. is a Korea-based company engaged in the provision of construction and engineering services. The company was established as a housing construction firm in 1950 and has its corporate head office located in Yongin-si, Korea.
Hanshin Construction’s project portfolio includes architectural work such as department stores, apartment complexes, sports centers and office buildings; civil engineering work (construction of tunnels, subway lines, highways and bridges); plant work, consisting of power transmission facilities, industrial plants and substations. It also provides remodeling services.
Hanshin Construction is one of the most prominent general construction companies in Korea. The company aims to become an internationally-renowned company.
Hanshin Construction actively operates in the Middle East, Vietnam and Mongolia.
The Hanshin Construction shares are traded on the Korea Stock Exchange.
The company’s year-on-year sales slightly declined this year, due to delay of new construction projects, despite progress of reconstruction business. The year-on-year operating profit-to-sales ratio declined because of relatively low profitability and raw material price hike. The net profit-to-sales ratio is on the rise, however, despite a decline of operating profit to sales ratio thru transfer from reserve for possible loan losses along with net interest profit increase in terms of non-operating profit.
As the firm received an order for the 55-story Ho Chi Minh twin buildings with Hanhwa Construction, growth is expected in the infrastructure and large-scale private project business in Vietnam. Though Hanshin Construction is likely to be impacted by soaring raw materials prices, it is forecast to obtain stable profitability due to a minimal impact from interest rate increases.
Hanshin Construction is likely to obtain working capital easily through low interest rate of about 1 percent, in view of more than 80 percent of borrowings from Construction Guarantee along with cash worth more than 100 billion won.
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Han Ki-hong of Hanshin E&C in charge of the No. 7 section of the double track line linking Dodam and Yeong-cheon presides over a meeting to discuss how to implement the project.
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