Samsung C&T Tops Construction Capacity Evaluation
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Samsung C&T Tops Construction Capacity Evaluation
The Ministry of Land, Infrastructure, and Transport evaluates over 5,000 construction firms and lists them in order; Samsung C&T wins Hong Kong Int’l Airport expansion project worth $240 million

03(Sat), Sep, 2016

A view of Chek Lap Kok Hong Kong Int'l Airport whose ground improvement project was won by Samsung C&T. (Photos: Samsung C&T)

Samsung C&T Co. has been named the top builder in the civil engineering construction sector for three years in a row. Samsung C&T's construction capacity was valued at 19.37 trillion won worth of civil engineering construction projects based on the evaluation of 56,067 civil engineering construction firms in the country by the Ministry of Land, Infrastructure and Transport, the ministry said on July 28.

Hyundai E&C came next with 13.27 trillion won and POSCO E&C with 9.973 trillion won coming in third on the list. Daewoo E&C dropped to fourth with 9.48 trillion won from third last year, followed by Daelim Industry and GS E&C with 8.763 trillion won each, the ministry said. 

Hyundai Engineering, born out of a merger with Hyundai Em Co., took 7th with 6.357 trillion won, followed by Lotte E&C with 5.31 trillion won, SK E&C with 5.994 trillion won and Hyundai Industrial Development with 4.862 trillion won to complete the top 10. 

The construction capacity evaluation includes the evaluation of the range of operation of the companies, including construction project record, management conditions, technological capacity, and trustworthiness, among others, to weigh the capacity of the construction companies to undertake civil engineering projects. 

Those construction firms listed in the top 10 have been certified by the government to have the capacity to take care of civil engineering and construction projects worth the respective figures noted by the ministry.

Samsung C&T said on Aug. 2 that it won a ground improvement project for Chek Lap Kok Hong Kong International Airport. The project's price tag is estimated at $340 million and Samsung will work with a local partner in a consortium. Samsung's share in the consortium is 70 percent, or $240 million, and the project will last for 20 months until March 2018.

The project is the first-stage of the airport's wider expansion program. Under the terms of the contract, Samsung C&T will strengthen the weak foundation 7 meters below the seawater before building the third runway. 

The Korean company expected that it will be able to win a series of follow-up projects to be commissioned by the Airport Authority Hong Kong including the third runway for Chek Lap Kok Airport and the second terminal expansion project.

Samsung C&T was recognized by governments and clients for its outstanding Quality & Safety performance on construction sites in Hong Kong and Singapore, said Samsung C&T on June 7. 

Samsung C&T’s Hong Kong metro project SCL C1109 was selected by the Hong Kong Construction Industry Council (CIC) and Development Bureau (DEVB) as the top overall construction site. 

The project was presented with the Gold Award, the highest award attainable under the “Considerate Contractors Site Awards” (CCSA). The CCSA awards are based on eight different criteria, including safety, site management and regulatory compliance, and CCSA awards are the most prestigious awards presented by the Hong Kong government in the domestic construction industry.

Samsung C&T Corporation was founded in 1938 as the parent company of Samsung Group. In 1975, it was designated by the Korean government as the nation’s “first general trading company” to lead overseas sales operations. It merged with Samsung C&T in December 1995, and has since been engaged in various global businesses through offices in over 50 countries.

The merger of Samsung C&T and Cheil Industries in September 2015 combined their respective reputations as leaders in their industries. 

Now, Samsung C&T aims to become a global business partner and lifestyle innovator through the Engineering & Construction, Trading & Investment, Fashion and Resort Groups.

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