Samsung C&T Clinches 2.2 Tril. Won Metro Building Deal in Saudi Arabia

SEOUL, KOREA- Samsung C&T Corp. will be a partner in a 25-trillion-won project to build a metro system in Saudi Arabia. The company said on July 30 that it had won a 2.2-trillion-won (US$1.97-billion) order to build part of the metro lines in Riyadh, Saudi Arabia's capital. The company received on the same day a letter of award for the "Package 3" Project involving the construction of three subway lines (Nos. 4, 5, and 6) commissioned by the Arriyadh Development Authority. The Riyadh Metro Project encompasses a total of 176 kilometers of subway lines with 87 stations.

In order to win the project, Samsung C&T formed a consortium consisting of the world's best-known contractors including Spain's FCC (Fomento de Construcciones y Contratas, S.A.), the Netherlands' Strukton, and France's Alstom.

Under terms of the agreement, Samsung C&T will build 64.5-kilometers of subway lines and 27 stations. The construction will begin in the third quarter and will be completed by 2018. Lately the company has been successful in landing three large subway construction deals, including India's Delhi Metro ($80 million), Qatar's Doha Metro ($700 million), and Singapore's Thomson Line ($225 million).

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