Samsung C&T consortium wins $1.6 bn Turkish highway project

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South Korean partners are responsible for the construction and operation of the road worth 580 billion won ($420.8 million) with 260 billion won for Samsung C&T, according to the company and Korea Expressway.“We aim to succeed in the business with Rönesans and expand the partnership into Turkey, CIS and Eastern Europe,” said a Samsung C&T official, referring to the Commonwealth of Independent States.

Samsung C&T said on Monday its alliance with Korea Expressway Corp., Korea Overseas Infrastructure & Urban Development Corp.(KIND), the Plant, Infrastructure and Smart City Fund, as well as Turkey’s Rönesans Holding bagged the deal to build a 4-8 lane highway of 31.3 kilometers (19.4 miles) by 2027.

A consortium of Samsung C&T Corp., South Korean state-run firms and a Turkish builder won a $1.6 billion project to build and operate a highway in the country located in Southeastern Europe and Southwestern Asia.

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Article Details

Category: Economy

Markets: South KoreaTurkey

Topics: Highway Korea South Wins Korean Samsung Expressway Business Corp Billion Consortium

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-21 @ 17:37:48 (4 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 242 words

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