- Winning of private sector and public sector projects including the development project for innovation city in Wonju, Gangwon continues on - Won orders for 6 projects including composite development project for innovation city in Moonhyeon, Busan with total value of approximately 230 Billion KW
AMCO, a subsidiary construction company under the umbrella of Hyundai Motor Group of Companies, has accomplished gallant deed of successively winning government products in both Korea and overseas countries this year, thereby spurring on independent marketing activities for winning orders outside of the projects initiated by the Group.
AMCO (Representative Director: Kim, Chang Hee. www.amco.co.kr) recently disclosed that the company has won the orders with total values of approximately 230 Billion KW in both Korea and overseas countries including 『Establishment of development project site for innovation city (Sector No. 2 / 460,000 pyeong)』 in the vicinity of Bangok-dong, Wonju city, Gangwon Province recently ordered by the Korea Land Corporation, 『Construction of container terminal at the new harbor in Incheon』 ordered by the Public Procurement Services, and 『Dedicated office building in Cambodia』, etc.
The order for construction projects that the company won were accomplished during the period of January ~ February and includes total of 6 products including ▲ 『Composite development project for innovation city at Moonhyeon, Busan』, which is a public subscription type PF project ▲『New construction of International Exchange Center at Ulsan University』 ▲ 『Regional residential cooperative project in Dohwa-dong, Incheon』 for approximately 400 residential units , in addition to the 3 projects in Wonju, Incheon and Cambodia described above.
AMCO further disclosed that these orders corresponds to 9.2% of the target, 2.4 Trillion KW, set by AMCO for this year, and that the company would be able to achieve the target without much difficulty on the strength of the successive winning of orders in the early part of the year.
In particular, the 『Construction for establishment of project site in Wonju』 among the orders won is the first government project that AMCO has independently won for the first time since its incorporation.
Although AMCO has won government projects by forming consortium with other construction companies in Korea, it was the first time that AMCO successfully won government project.
AMCO managed to win this government project independently because the experience and technological capabilities of the company was evaluated highly through successfully completion of establishment of Dangin Songsan Industrial Complex with total area of approximately 1.7 million pyeong including site establishment for construction of Hyundai Steel Mill in Dangin.
Accordingly, AMCO will commence construction for the Sector No. 2 (460,000 pyeong), which the company won the order for and corresponds to 42% of the total of 1.1 million pyeong for the Wonju innovation city, in the middle of this week with schedule to complete the establishment of the site by the end of May 2012. Once the site establishment is completed, various structures including detached houses, apartments, schools, hospitals and public offices will be constructed.
In addition, 『Construction of container terminal at the new harbor in Incheon』 is a turn-key project ordered by public office and won through composition of consortium with Samsung, etc. It involves construction of 1,600 meter long harbor facility that can accommodate berthing of one 4,000 TEU class and five 2,000 TEU class container ship simultaneously. Along with this, AMCO won the order for ‘AMCO Tower’, which will be dedicated for usage as office, with total floor space of approximately 9,400 pyeong on 4 underground floors and 22 above ground floors (US$ 34 Million) in Phnom Penh, Cambodia. Construction began last month with schedule for commencement of sales in this March. On the foundation of the aforementioned orders that the company won, AMCO is planning to assertively participate in various bidding for private sector invested / Social Overhead Capital (SOC), planning / proposal type projects in both Korea and overseas countries. In addition, Vice-chairman, Mr. Kim, Chang Hee, added that “on the foundation of successive winning of orders in both Korea and overseas countries in recent months, the company is planning to devote our utmost efforts in expansion of winning order in high-growth low-developed countries including Russia, Libya, Turkmenistan, Vietnam and Cambodia,” and added that “the company plans to set this year as the year of foundation for entry into the rank of one of top 10 construction company in Korea by the year.”
* Location Diagram (Sector for which AMCO is establishing the site) and Bird’s Eye View of Innovation City in Wonju, Gangwon