Samsung C&T wins US$ 340 m HK runway project
By Mike Hayes08 August 2016
Samsung C&T Corporation has won the contract to provide deep cement mixing works on the three-runway system (3RS) at Hong Kong international airport.
In a joint venture with Hong Kong contractor Build King, Samsung C&T will work at approximately 7 m below sea level, to firm up and stabilise the sea bed, ahead of land reclamation work for the airport’s third runway.
The project is due to start imminently and is expected to take around 20 months to complete.
The contract with the consortium is reportedly worth US$ 340 m, with Samsung C&T’s share valued at around US$ 240 m.
The third runway project, which gained initial approval in March 2014, will ultimately reclaim some 650 hectares of land from the sea. It is set to cost a total of US$ 17.5 billion, with at least US$ 5 billion being set aside for the land reclamation project.
Hans Whang, head of Samsung C&T’s Civil Infrastructure Business Unit, said, “We are honoured to be part of the 3RS project, which we understand is meaningful for Hong Kong‘s further development. Even though challenging, we are certain that by working closely together with our trusted partners and maintaining a strong emphasis on safety and quality, this project will have outstanding results.”