Yongnam bags S$54.3m worth of subcontracts in Singapore

Awarded by Takenaka and Samsung C&T.

Yongnam Engineering & Construction Pte. Ltd., a wholly-owned subsidiary of structural steel contractor and specialist engineering provider Yongnam Holdings Limited (Yongnam), has announced that it has secured S$54.3 million worth of subcontracts, involving more than 10,000 tonnes of structural steelwork.

In the first subcontract, Takenaka Corporation awarded Yongnam a subcontract for structural steelwork at the upcoming Changi International Airport Terminal 4. The scope of work involves the supply, fabrication, surface treatment, delivery and erection of structural steelworks of the roof structure, certain parts of the internal floors as well as the link bridges, canopies and other appendages of the new airport terminal. Yongnam is expected to commence site works in the third quarter of 2014 and the new airport terminal is expected to be completed in 2017.

For the second subcontract, Samsung C&T Corporation awarded Yongnam the structural steel subcontract in the redevelopment of the UIC Building along Shenton Way, Singapore. This project is a mixed development and comprises a new 23-storey Office Tower and a new 53-storey Residential Tower complete with a seven-storey podium and 2 Basements. Yongnam will supply, fabricate, surface-treat, deliver and erect the steel structure required in the construction of the development’s residential and office towers. The entire redevelopment is expected to be completed in 2017.

Mr Seow Soon Yong, Chief Executive Officer of Yongnam said, “We are delighted to have secured these two subcontracts in such quick succession and this is testament to the faith that our main contractors have in us. Over the years, we have played key roles in building our cityscape and we look to continue to capitalise on our experience and track records in shaping Singapore’s future developments.”

The subcontracts are expected to have a favourable impact on the Group’s financial performance for the year ending December 31, 2014.