Daelim Bags Major Port Contract in Singapore
South Korea's fourth-largest builder Daelim Industrial Co has won a deal valued at US$646.03 million to construct a port facility in Singapore. The project is expected to take about six years.
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, according to the company.
To ensure its port facilities are in line with changes in container shipping, Singapore will centralize all container operations in the Tuas district. This will take place in phases and the first berths in Tuas, which is in the southwestern part of Singapore, are expected to be operational sometime in the early 2020s.
Daelim has formed a consortium with a Belgian firm Dredging International, a subsidiary of DEME Group, for the contract for the construction of Singapore’s new container port.
According to Daelim, the two companies, under a joint venture, will perform the first phase of the construction project that includes dredging, land reclamation, and wharf construction works.
The company said it emerged victorious following a tender in which competitors from Japan and the Netherlands also participated.
