Wednesday, May 8th, 2013
SEOUL, KOREA - Samsung C&T said on May 8 it has signed an agreement to build a 217-kilometer railway in Mongolia commissioned by the Railway Authority of Mongolia.
Samsung C&T is the sole contractor to implement the US$483-million project. The project calls for installing a railroad line connecting Tavan Tolgoi coal mine, 540 km south of the Mongolian capital Ulan Bator, and the China-Mongolian borders, as well as building a rolling stock depot.
A Samsung C&T official said, "We were given high marks for our ample experience in railroad projects, excellence in technological prowess, and best construction time schedule. With the latest project, we are in an advantageous position to win additional projects in Mongolia related to resource development."
Samsung C&T entered the Mongolian construction market in May last year with a $273-million project to build Shangri-La Hotel in Ulan Bator. This is a third project for the company following a $56-million project to build the MCS Tower last June.