Incheon Urban Corporation to Issue Orders Worth 3.5 Trillion Won This Year... Full-Scale Development of Geomam Station Area
[Asia Economy Reporter Park Hyesook] Incheon Urban Corporation (iH) announced on the 19th that it will issue public offerings, construction, services, and material purchases worth 3.551 trillion KRW this year.
This is double the amount of last year's issuance performance of 1.6571 trillion KRW.
By issuance details, public offering projects total 3.1354 trillion KRW (19 cases), construction 312.7 billion KRW (67 cases), services 66.8 billion KRW (225 cases), and material purchases 36.1 billion KRW (81 cases). Among these, 1.5333 trillion KRW is planned to be concentrated in issuance during the first half of this year.
Major public offering projects include ▲Geomam Placia Complex Transfer Center Development 1.0623 trillion KRW ▲Geomam B3 Block Publicly Supported Private Rental Construction 242.5 billion KRW ▲Geomam A3 Block Public Housing Construction 237.2 billion KRW ▲Yeongjong A65 Block Publicly Supported Private Rental Construction 192.7 billion KRW ▲Geomam B1 Block Public Housing Construction 186.1 billion KRW ▲Dohwa B3 Block Public Housing Construction 174.6 billion KRW, etc.
Also, construction issuances include ▲Gyeyang Technovalley Section 3 Development 60 billion KRW ▲Geomam Placia Development 54 billion KRW ▲Geomdan Sewage Treatment Plant Expansion (Phase 2) 43.4 billion KRW ▲Geomdan New Town Phase 3-1 Bridge 38 billion KRW ▲Geomdan New Town Phase 3-1 Tunnel 36 billion KRW ▲Incheon Global Campus (Songdo) Faculty Apartment Construction 13.1 billion KRW ▲Geomdan New Town No. 11 Neighborhood Park Landscaping 12.6 billion KRW, etc.
Regarding public offering issuance, iH plans to mandate local company participation in the business consortium or require a certain percentage of construction subcontracting to local companies, and will impose sanctions if not complied with.
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Lee Seung-woo, President of iH, stated, "To recover the construction industry stagnated due to COVID-19 and other factors, we will promptly proceed with early issuance and execute all issuance targets such as construction and services through urgent announcements."
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