Yongnam secures three subcontracts worth $76.6 million

Two contracts are for Thomson-East Coast Line.

A subsidiary of mainboard-listed Yongnam Holdings clinched two subcontracts for the construction of the Thomson-East Coast Line, along with a new project in Hong Kong. The subcontracts have a total value of $76.6 million

Yongnam Engineering & Construction has secured two new subcontracts for the Thomson-East Coast Line Napier Station and the Thomson-East Coast Line Marina South Station and Tunnels in Singapore. In addition, Yongnam Engineering Hong Kong has secured a subcontract for a temporary steel bridge in Hong Kong.

The first subcontract, awarded by Sinohydro Singapore, will see Yongnam participate in the construction of the upcoming Thomson-East Coast Line Napier Station. Yongnam will be responsible for the supply, installation and dismantling of steel struts.

The second subcontract for the Thomson-East Coast Line Marina South Station and Tunnels is awarded by a joint venture between Sinohydro-SDC. Yongnam’s scope of work involves the supply, installation and dismantling of a pipe pile cofferdam system, steel struts as well as decking works.

Both contracts are expected to be completed in 48 months. The three subcontracts are expected to have a favourable impact on the Group’s financial performance for the year ending December 31, 2014.