Hanshin Engineering & Construction, Smooth Progress in Securing Maintenance Projects and Public Construction Contracts

Hanshin Engineering & Construction has consecutively succeeded in securing orders for maintenance projects and public construction works.

On the 12th, Hanshin Engineering & Construction announced through the electronic disclosure system that it had won the contract for the "Gyeongbu Line Cheonan~Sojeong-ri Neundeul Crossing Grade Separation Project" site. The contract amount is approximately 33.1 billion KRW.

In the pilot project of the "Construction Safety Scoring System" promoted by the Ministry of Economy and Finance and the Public Procurement Service, Hanshin Engineering & Construction secured the top bid evaluation rank in the "National Road No. 42 Jeongseon Imgae~Donghae Sinheung Road Construction Project (bid amount 137.3 billion KRW, Hanshin Engineering & Construction’s stake 51%)," gaining a favorable position in the bidding competition.

The order for maintenance projects is also progressing smoothly. Hanshin Engineering & Construction announced on the 26th of last month that it was selected as the construction company for the Cheongcheon Shiyeong Apartment Reconstruction Maintenance Project. The contract amount is 313.6 billion KRW. Following last year, the company aims to join the 1 trillion KRW club in the urban maintenance business sector this year as well.

As of the end of the third quarter last year, Hanshin Engineering & Construction’s order backlog stood at 5.3 trillion KRW. Including the third quarter’s Aengdu Reconstruction Project (contract amount 423.3 billion KRW) and the recent orders, the order backlog is expected to exceed 6 trillion KRW. The company has established a stable portfolio with approximately 2.5 trillion KRW in urban maintenance projects and 1.2 trillion KRW in public construction works.

A representative of Hanshin Engineering & Construction stated, "Profitability improvement is expected due to the decrease in cost ratio resulting from the completion of urgent construction sites, which was a major cause of cost rate increase last year, and the prior reflection of increased site costs."

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