BT : Lian Beng, Yongnam clinch contracts

Business Times - 06 Apr 2010

Lian Beng, Yongnam clinch contracts

By UMA SHANKARI

TWO construction companies announced large deals yesterday. Lian Beng Group said it has clinched its third contract within a month. The latest contract, worth $95 million, is to design and build The Laurels, a luxury condominium project at Cairnhill Road - jointly developed by Sing Holdings and Forum Partners.

Separately, Yongnam Holdings also said it has won a sub-contract in India together with a local partner. The contract, worth around $75.5 million, is for the construction of a roof structure and columns for a new terminal building for the Mumbai International Airport.

Lian Beng's latest contract follows other recent awards to build Centro Residences and Waterbank at Dakota. It will bring the value of all contracts secured since the second week of March to $317 million.

The contract for The Laurels will include the construction of 229 apartment units within two 19-storey residential blocks, along with a swimming pool, a basement car park and other ancillary facilities. Work is scheduled to begin in April and is expected to complete by the first quarter of 2013.

With the addition of this latest contract, Lian Beng's order book now stands at a record $915 million.

Yongnam also announced yesterday that it was awarded a sub-contract together with Geodesic Techniques, an engineering design and build company in India.

Yongnam is in discussions with Geodesic to form an equal joint venture (JV) company to undertake the project. The JV will supply, fabricate and erect approximately 20,000 tonnes of structural steel for the roof structure as well as composite steel columns of the new passenger terminal building and piers. As the lead partner in the JV, Yongnam will deploy personnel in the key areas of fabrication, erection, quality control and safety. The contract, which is expected to be completed by February 2011, is forecast to have a favourable impact on Yongnam's FY2010 financial performance.

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