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Ssangyong E&C bags US$252 mln subway deal in Singapore

All News 14:09 January 26, 2016

SEOUL, Jan. 26 (Yonhap) -- Ssangyong Engineering & Construction said Tuesday it has won a subway construction project worth US$252 million in Singapore in partnership with Hyundai Engineering & Construction.

Singapore's Land Transport Authority chose a Ssangyong E&C-led consortium to build the east coast line on the island by 2023.

Ssangyong will hold a 75 percent stake in the project and Hyundai 25 percent.

The builder also recently won three construction projects worth $1.6 billion in Dubai in December.

Ssangyong was taken over by a sovereign wealth fund in the United Arab Emirates, the Investment Corporation of Dubai, in early 2015.


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