Categories
3. Read Recent News Business

Ssangyong E&C to build presidential guest house in Equatorial Guinea – posted by www.equatorialguineaonline.com

posted by www.equatorialguineaonline.com


This photo shows a design of Mongomo Leader’s Club, the Equatorial Guinean presidential guest house to be built by Ssangyong E&C.

/ Courtesy of Ssangyong E&C

By Jung Sung-ki

Ssangyong Engineering & Construction has signed a contract to build a presidential guest house in Equatorial Guinea, the company announced. The contract is valued at 91 billion won ($77 million).

It is the first time that a South Korean construction firm has won a deal in the African nation, a company spokesman said.

“Equatorial Guinea is a small country with a population of 630,000, but it’s a nation with abundant resources, such as natural gas and petroleum with the per capital GDP of $27,000,” the spokesman said. “We expect more orders from the nation, and the latest contract is expected to help set the stage for expanding our business opportunities in the African region, the Middle East and Russia beyond Southeast Asia.”

Equatorial Guinea President Teodoro Obiang Nguema Mbasogo was supportive of Ssangyong’s winning the deal, as he recognized the South Korean company’s proven record of constructing luxury buildings in Singapore and other places, he added.

The guest house ― Mongomo Leader’s Club ― is composed of one four-storey building and another two-storey building within a 7,537 square-meter compound, according to the firm.

The luxury seven-star buildings are to feature a presidential meeting room, a VVIP theater with a capacity of 150 seats, a beauty salon, restaurants, conference halls, fitness center, a mini casino bar, it said in a news release. It will take 18 months to complete the guest house.

Ssangyong is engaged in 15 projects worth $2.4 billion in seven nations, including Indonesia, Vietnam, Pakistan and India.

The company boasts a portfolio that spans all areas of construction, ranging from buildings, roads, subways, railways, airports, harbors, dams, bridges, tunnels and plants.

In particular, Ssangyong excels in the hotel building sector. The firm has completed approximately 13,000 guestrooms in hotels around the world. With much fanfare, In 2010, Ssangyong built the Marina Bay Sands Hotel in Singapore, sloping up to 52 degrees from the ground surface.

Leave a Reply

Your email address will not be published.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.