SEOUL, KOREA - Ssangyong Engineering and Construction has won a project to build a six-star hotel in Indonesia. The company said on May 13 it has landed a US$120-million deal to build a Saint Regis hotel in Jakarta.
The St. Regis is a luxury hotel brand owned by Starwood Hotels & Resorts Worldwide, Inc., one of the world's best-known hotel chains including Westin Hotels & Resorts, Sheraton Hotels and Resorts, and W Hotels & Resorts.
The project, commissioned jointly by Indonesia's Rajawali Group and Australian investors, will consist of building a 20-story hotel and 48-story office building.
Rajawali Group had commissioned in the late 1980s a construction project to build the Grand Hyatt Jakarta. Based on more than 20 years of relationship, a Ssangyong E&C official said, the latest project was a direct outcome of confidence in Ssangyong's capability and trustworthiness.
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