AMCO, Won orders for construction of public housing project valued at 520 Billion KW in Libya
Hyundai Engineering 2009/07/29프린트
Hyundai Engineering 2009/07/29프린트
- Construction of 2,000 units of public housing ordered by the Office of Development, Administration and Construction of Libya... First government project in overseas country - Dispatch more than 3,500 specialized global manpower from Nepal, Bangladesh, Egypt and Thailand
- More than 250 heavy machineries and materials are shipped from Korea to Libya... Plans for new establishment of branch office in Libya next month
AMCO, a subsidiary construction company of Hyundai Motors Group of Companies has successfully entered into African market in addition to the Southeast Asian market including Vietnam and Cambodia.
AMCO (Representative Director: Kim, Chang Hee. www.amco.co.kr) announced on the 28th that the company won orders for and recently entered into and executed contract with the Libyan government for construction of 2,000 units of public housing and related infrastructure valued at 520 Billion KW to be constructed in Qubbah City, Libya, which is located in the northern region of Africa.
The public housing project that the company won orders for is part of modernization project of Qubbah City that the Libyan government is pursuing and it is the first time that the Libyan government is implementing plans for construction of such a large capacity residential complex including 2,000 public houses.
Qubbah City in Libya is a small city with population of 100,000 and located approximately 200Km from the Banghazi City, the 2nd largest hub of distribution and transportation in Libya.
This project is a large capacity government project ordered by the Office of Development, Administration and Construction (ODAC) of Libya under international tendering. AMCO succeeded in being awarded the project through competition with 5 other construction companies from Korea, China and Turkey, for having the credibility, financial capability an construction capabilities of AMCO fully recognize.
Accordingly, AMCO has achieve entry into the residential market in Africa following the success in winning orders for construction of enormous composite resort with value of 1.7 Trillion KW
in Hai Phong, Vietnam and construction of office building in Cambodia last year.
In particular, this project in Libya is the first government project in overseas country that AMCO won the orders for. On the opportunity of entry into African market through winning of this order, AMCO is looking forward to accelerating its entry into overseas projects in Middle East an North Africa in the future.
The public housing to be constructed in the Qubbah City is a large capacity construction project that includes 250 units of 4-story villa complexes on land area of 400,000 pyeong. It is scheduled to commence in September this year and to be completed by the end of 2012, with total construction period of 40 months,.
In particular, this project is the first overseas construction project of AMCO in which AMCO is fully responsible for all the aspects of the project ranging from design, procurement of manpower,
equipment and material to construction.
Accordingly, AMCO has established Libya TFT composed of 50 personnel and began preparing for the project in earnest. In consideration of the poor environment of and infrastructure in the construction industry in Libya, AMCO is planning to ship all the facilities, construction materials and more than 250 large heavy machineries including dump trucks, excavator and crane from Korea to Libya.
In addition, AMCO is planning to ensure thorough preparation for the first overseas government project the company won orders for by employing outstanding manpower from Bangladesh, Nepal, Egypt, Thailand and Vietnam, as well as technical supervisors from Korea, in order to secure approximately 3,500 manpower required for the project.
Mr. Kim, Chang Hee, the Vice-chairman of AMCO, stated that “AMCO is planning to provide expedient support for this project by establishing branch office in Tripoli, Libya, which will also be used as base
for assertive pursuit of market in Middle East and Africa as well as to win orders for further government projects in Libya” and that “the company will be able to accomplish the target of the company in securing overseas orders with value of 850 Billion KW for this year without any difficulty.”
Libya is one of the 4 major petroleum producers in the world and is located along the seashores of the
Mediterranean Sea with Tripoli as its capital city. Mega water pipeline network project for supply of water to the coastal cities of the Mediterranean Sea in the northern regions of the country by tapping into underground water in the Sahara Desert, which began in 1984 by the Dong-A Construction of Korea, is continuing in Libya until present.