SEOUL, KOREA - Korea's major construction contractors, including Hyundai Engineering & Construction, GS Engineering & Construction, and Daewoo Engineering & Construction, see that they would have little problem recouping investment in Thailand's gigantic water management program.
Especially given that this is a great opportunity for them to improve their reputation tarnished by a scandal over the Four Rivers project and ensuing investigations by the prosecutor's office.
A Daewoo E&C official said, "The winning of the Thai water project shows that our capabilities have been widely recognized overseas. We hope it could be an occasion to shake off bad publicity over the misconduct."
The Thai project is also important in that it could be a test case for further orders elsewhere in regions like Latin America and Southeast Asia as the countries in these regions have so much need for controlling flood.
A GS E&C official said, "As the Thai government has already decided to invest 2 trillion won a year for five years as part of the national priority projects, contractors engaging in the water projects are in such a happy situation where they don't have to finance construction cost for themselves. Even then, we plan to apply strict cost management to minimize additional unexpected outlays."
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