Overseas Construction Order Volume for 9 Months Rises 13%

SEOUL, KOREA- Construction contractors' overseas orders for the nine months of the year have increased more than 10 percent from the same period last year, moving one step closer to the target order booking amount of US$70 billion by the year's end. The Ministry of Land, Infrastructure, and Transportation said on September 30 that the total overseas construction order amount for the three quarters has been US$44.82 billion, up 13 percent from $39.80 billion a year ago.

For the first six months, the figure had been 5 percent lower than the same period last year. As Hyundai Heavy Industries won a $3.3-billion thermal power plant project from Saudi Arabia and Daewoo Engineering & Construction clinched a $1.77-billion Safi Independent Power Project in Morocco, however, the situation reversed.

By region, Asia accounted for 43 percent of the total with $19.19 billion, followed by the Middle East that took a 40-percent share. The ministry is optimistic that the $70-billion target will be reached until the year's end without much difficulty. Given the Chao Phraya River basin water management project in Thailand may be postponed to December or beyond from the original September, however, it is too early to tell.

Korea IT Times (info@koreaittimes.com) 다른기사 보기