POSCO E&C Wins Redevelopment Project in Changwon Sangnam Sanho District
[Asia Economy Reporter Yoo In-ho] POSCO Engineering & Construction has won a redevelopment project worth 700 billion KRW in Sangnam Sanho District, Changwon, Gyeongnam.
According to POSCO Engineering & Construction, the consortium formed by the company along with Shindong-A Construction and Junghung Construction was finally selected as the contractor with 86.3% approval (655 out of 759 members) at the contractor selection general meeting held at Sangnam Elementary School in Changwon on the 31st of last month.
This project involves redeveloping the area around 179-1, Sangnam-dong, Masanhappo-gu, Changwon City, to create a large complex consisting of 3,219 apartment units and 218 officetel units.
Excluding the units allocated to association members, 2,044 apartments will be sold to the general public.
Named "Changwon Central City," this complex is scheduled to begin construction in March 2024 and be completed by May 2027.
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A POSCO Engineering & Construction official stated, "To successfully carry out the long-awaited redevelopment in this area, we formed a consortium appropriate for the scale and proposed a trust-based project condition to ensure stable financing, which seems to have been effective."
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