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Saman Corporation, lands a KRW 45 billion design project in Algeria |
2009/01/19 |
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- Good news, contracting continues with overseas orders despite the financial crisis,
because of Saman's advanced technology recognized worldwide.
Saman Corporation, the biggest design & engineering company in Korea, acquired the opportunity to carry out a KRW 45 billion design project in an internationally competitive bid for the construction of a new city and highway in an oil producing countries of North Africa, Algeria.
Saman Corporation, an affiliated company of Prime Group, announced that they contracted a KRW 12 billion project for the construction of a New City ‘Sidi Abdela’ by order from the Algerian Department of National Land Development on the 13th November. This project will be carried out by the consortium composed of Saman Corporation (superintendent), Seojin Engineering, Samoo Architects & Engineers, and KT
The New City, Sidi Abdela will be one of Algeria's 5 new cities for the diversification of the population and the provision of new residential housing in Alge, the capital of Algeria. It will be a high-tech science and technology city with residential housing, commercial facilities, administrative facilities, industrial complexes etc... for 2 hundred thousand people on a site of 40 million square meters.
Prior to this, Saman Corporation had been contracted for it's design services(KRW 28 billiion) in the turnkey project for the new city Sidi Abdela Infrastructure, which Keang Nam Consortium is the host enterprise with the construction cost of USD 758 million (about KRW 805 billion) last September, and received orders for the practical design project (KRW 5.4 billion) of the central highland highway(220km long) ordered by the Algerian National Highway Administration last August, which means Saman Corporation will carry out design projects worth a total of KRW 45 billion for Algeria.
Considering that the design cost is usually about 3~5% of the total construction cost, the design projects which Saman Corporation obtained orders for, are equivalent to a constructional project costing USD 1 billion. In particular, Saman contracted this Algerian SOC project based on advanced technical competence rather than price terms. In doing this, Saman established a precedent helping domestic construction companies receive large-scale orders in Algeria in the future.
Young-Muk Jeong, the president of Saman Corporation emphasized that "The receipt of Algerian project orders is of great significance, because it securing a bridgehead to expand overseas constructional market in African and the Middle East." and added "Based on the synergy effect of real estate development & planning ability and constructional competence(DONGAH Construction) of the parent company, Prime Group, we are devoting all our energies to receive large-scaled development projects such as Taman & Vladivostok Harbor Development in Russia, Naypyidaw International Airport Development in Myanmar, City Development Project in Libya."
Saman is a professional design and supervision company established in 1967, accumulating much experiences and technical skills in SOC constructional engineering for railroad, highway, harbor, dam, airport, city planning, environment, etc.
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