Yongnam seals $35.9mln contract for Marina Coastal Expressway

Total contract value for Yongnam’s all six contracts for MCE is $363mln.

Yongnam Holdings Limited, a structural steel contractor and specialist civil engineering solutions provider, is pleased to announce that the Group has been awarded its sixth contract valued at S$35.9 million for the Marina Coastal Expressway (MCE), according to a Yongnam report.

With this contract win, the Group has secured contracts worth a total of S$363 million for the MCE.

Mr Seow Soon Yong, Chief Executive Officer of Yongnam, said: “We are very happy to have secured our sixth MCE contract. Our continued involvement in this strategic transport link is a solid endorsement of our ability to deliver quality engineering solutions for our clients. By working on Singapore’s major infrastructural projects such as the MCE, Yongnam continues to strengthen its brand name and build up its track record.”

The dual five-lane, 5km long MCE will be a key element of the strategic island-wide road network to support the long-term growth of Singapore. The underground eastwest transport link runs between the Kallang-Paya Lebar Expressway (KPE), the East Coast Parkway (ECP) and the Ayer Rajah Expressway (AYE), with direct connections to the Marina South and Straits View areas. With several upcoming developments such as the Marina Barrage, the Marina Bay Sands Integrated Resort, the Sail @ Marina Bay and the Marina Bay Financial Centre in the vicinity, the MCE will cater to the projected increase in traffic volume generated by the high-density developments in the Marina Bay area and serves as an essential transport link from Marina Bay to the rest of the island.

The MCE will run through segments of reclaimed land as well as feature a 420m section that runs below the Marina Bay seabed. This poses many complex technical and engineering challenges, compounded by the difficult soil conditions in the area. Excavation works could run as deep as 60 metres in certain sections and cover the entire width of the expressway. At its deepest point, the MCE will be about 20 metres below mean sea level.

Yongnam will support the main contractor, Ssangyong Engineering and Construction Co. Ltd in the supply, fabrication, assembly, maintenance and subsequent removal of all steel walers and struts.

The Contract is expected to complete in May 2012. It is expected to have a favourable impact on the Group’s financial performance for the year ended December 31, 2010.