Samsung C&T Breaks $10 Bil. Milestone in Overseas Construction Orders
Samsung C&T Breaks $10 Bil. Milestone in Overseas Construction Orders
  • Korea IT Times (info@koreaittimes.com)
  • 승인 2013.07.31 18:46
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SEOUL, KOREA- This year to date, Samsung C&T Corp. has reached a goal of US$10 billion in overseas contracts.
This is about a third of the total domestic order amount ($31.3 billion). On July 30, the company announced it won a $1.97-billion order to build part of the metro lines in Riyadh, Saudi Arabia.
 
With the latest addition in its order book, Samsung C&T saw its overseas order balance for the year jump to $10.8 billion. This is more than double that of Hyundai Engineering & Construction ($4.68 billion), the No. 2 contractor in Korea. This is the first time in Korea's history for a construction contractor to surpass its overseas order booking over $10 billion, except in two occasions, including KEPCO in 2010 ($18.6 billion) and Hyundai E&C ($10.5 billion). But the former case was due to one-time $20-billion award by the United Arab Emirates.
 
By 2009, Samsung C&T had an overseas order booking of only $300 million. Since the inauguration of Jung Yeonjoo in 2010, however, the company has been aggressive in going overseas, increasing its order amount by more than 30-folds in three years.

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