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Samsung Corp. Redesigning India


Source:
Korean Times
 

 

A few years ago many Korean construction companies were on the verge of collapse following the Asian financial crisis.
But the companies, including industry leader Samsung Corp., have transformed the situation by succeeding in overseas construction markets.

Although the domestic market is showing little sign of improving, the builders are enjoying robust growth thanks to surging construction demands in Southeast Asia, Southwest Asia the Middle East.

In 2001 in India, which represents the largest construction market in West Asia, Samsung Corp. won a $127-million project for participating in the construction of a subway system in New Delhi.

Samsung Corp.’s engineering and construction unit also won a contract worth $55 million to build a hydraulic dam project in northern India in 2000.

Under the contract, awarded by India’s National Hydroelectric Power Corporation, Samsung has recently completed engineering work of a 4.4-km water conveyance tunnel and 330-meter vertical tunnel of the dam near the Dhauliganga River.

 
The company won the contract in a consortium with an Indian builder after fending off competition from Japan's Kajima and Shimizu consortiums and Germany’s Dywidag.

``There is a boom in construction orders from India. As the country pursues its economic expansion plans, construction demands will grow sharply, and there will be more opportunities for us,’’ a Samsung Corp. official said.

Samsung Corp. has emerged as a global construction leader in terms of ``construction capability.’’

Samsung Corp.’s proportion of construction sales in its operations increased up to 50 percent, resulting in a rise in the score for the financial and management status item. The score is based on multiplying the ratio of construction sales to real capital by the management grades.

The company’s construction unit is also a plant builder and housing developer. To date, the group has to its credit Malaysia’s Petronas building, the world’s highest edifice, 452m high, with 92 stories above ground; New Busan Port; Incheon International Airport; Ulchin Nuclear Power Plant; and Raemian and Trapalace, the apartment complexes.

From energy resources to housing, each of these projects is a powerful testimony to the group’s technological excellence. Last year, the group won a contract to build the world’s highest building, Burj Dubai.

In Taiwan Samsung Corp. won an order for furnishing the interior of the 101-story Finance Center in Taipei that is worth about $64 million, a huge project by interior design and decoration standards.
 
 

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