Monday, June 2nd, 2014
SEOUL, KOREA - Daelim Industrial has won a series of construction projects in the Philippines and Singapore. The company said on June 2 that it landed deals to expand the capacity of a coal-fired power plant in Pagbilao (350 billion won) and build the Thomson MRT Line, the sixth mass rapid transit line, in Singapore (245 billion won).
Commissioned by Pagbilao Energy Corp., the capacity expansion project calls for increasing power generation capacity by 420 megawatts to the existing one of 735 megawatts in the area 120 kilometers southeast of Manila. Daelim will be responsible for everything from engineering, purchasing, and construction for the whole 42-month period until the end of 2017. Of the total construction cost of 350 billion won, Daelim's share is 200 billion won, with the remaining 150 billion won going to Daelim's local subsidiary.
Awarded by the Land Transport Authority of Singapore, the Thomson Line project involves building Outram Park station (T222) and its associated tunnels along the 30-kilometer line linking Woodlands North station with Marina Bay station in the south. Daelim Industrial will take charge of the 1.42-kilometer section including the underground station and a 1.2-km tunnel. The length of the project is 79 months and the project will be completed by December 2020.
With the winning of the latest orders, Daelim Industrial will be able to further diversify its portfolio to public works and architecture from the current focus on oil refining and power plant building. Kim Dong-su, Daelim president, said, "We will strengthen our presence in the area of public works such as subways and bridges while putting more effort on taking business in Southeast Asia."