GS Engineering & Construction said on June 22 that it won two construction orders worth 667.6 billion won (US$606.8 million) in Korea and elsewhere.
The domestic project for which the contractor received a letter of intent was the 311.3-billion-won order commissioned by Korea Petrochemical Industries. The project calls for expanding the company's petrochemical plant located in Onsan near Ulsan. The construction project's length is 22 months.
The current plant's capacity is 490,000 tons of ethylene and 220,000 tons of benzene, toluene, and xylenes (BTX), which will be increased to 800,000 tons and 300,000 tons respectively. In addition, the newly expanded plant will produce 150,000 tons of propylene a year, with ten new structures including cooling towers and naphtha tanks.
Together with the Korea Petrochemical order, GS E&C also landed a $320-million deal to build a subway section for the Singaporean Land Transport Authority. The project calls for building a 43-kilometer section of the Thomson-East Coast Line connecting Woodlands in the north with an area near Changi Airport. The project GS E&C won relates to improving the weak foundation on which the railway will be built. The company is the sole contractor on the project which will last until March 2018. The project involves removing existing piles and installing 5,895 new piles on the 435,000-square-meter construction site.
Earlier last month, GS Engineering & Construction earned a "star" grade in the Green & Gracious Builder Scheme sponsored by the city-state's Building & Construction Authority.
