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Ground Broken for World’s Longest Suspension Bridge in Turkey

Ground Broken for World’s Longest Suspension Bridge in Turkey

SEOUL, March 19 (Korea Bizwire) – A groundbreaking ceremony has been held in a Turkish seaport for the construction of the world’s longest suspension bridge by an international consortium led by South Korean builder SK E&C, industry sources said Sunday.  The ceremony took place on Saturday in Canakkale, Turkey, to coincide with the 60th anniversary [...]

S. Korea-Led Consortium Wins US$3 Bln Deal to Build Turkey’s Canakkale Bridge

S. Korea-Led Consortium Wins US$3 Bln Deal to Build Turkey’s Canakkale Bridge

SEOUL, March 17 (Korea Bizwire) – An international consortium led by major South Korean builder SK E&C has inked a deal to build the world’s longest suspension bridge in Turkey, government officials in Seoul said Friday.  The deal, said to be worth some US$3 billion, was signed in Ankara on Thursday, according to officials from [...]

Doosan Heavy Bags 300 Bln-Won Deal to Upgrade Indonesian Power Plant

Doosan Heavy Bags 300 Bln-Won Deal to Upgrade Indonesian Power Plant

SEOUL, March 14 (Korea Bizwire) – Doosan Heavy Industries & Construction Co., South Korea’s top power equipment maker, said Tuesday that it has bagged a 300 billion-won (US$262 million) deal to upgrade an existing power plant in Indonesia.  Under the deal with the state-run Indonesian PLN, Doosan Heavy and a state-run Indonesian construction firm will [...]

N. Korea Diverts Int’l Aid for Flood Recovery to Construction Projects: Report

N. Korea Diverts Int’l Aid for Flood Recovery to Construction Projects: Report

SEOUL, Feb. 14 (Korea Bizwire) – North Korea has misappropriated part of an international relief package to help it deal with the devastation caused by deadly flooding last year for its major infrastructure projects, a U.S. broadcast said Tuesday. A source in the northern Ryanggang Province told Radio Free Asia (RFA) that materials and funds [...]

S. Korea to Build 900 Kilometers in New Roads in 2017

S. Korea to Build 900 Kilometers in New Roads in 2017

SEOUL, Feb. 9 (Korea Bizwire) – South Korea will extend national roads by over 900 kilometers this year, greatly improving the accessibility of the entire nation while also helping boost the local economy, the government said Thursday.  Also, more than 60 percent of 7.3 trillion won (US$6.37 billion) in government budget earmarked for the construction [...]

Construction Firms’ Domestic Orders Hit Record High in 2016

Construction Firms’ Domestic Orders Hit Record High in 2016

SEOUL, Feb. 8 (Korea Bizwire) – South Korean construction companies racked up a record in domestic orders last year, aided by a boom in the local property market, offsetting a slump in overseas projects, industry data showed on Wednesday.  According to the data compiled by the Construction Association of Korea, local builders received a record [...]

Doosan Bobcat Ready to Bask in U.S. Infrastructure Spending

Doosan Bobcat Ready to Bask in U.S. Infrastructure Spending

SEOUL, Jan. 9 (Korea Bizwire) – Doosan Bobcat Inc., a construction equipment unit of Doosan Group, is forecast to earn solid earnings this year on the back of the incoming U.S. government’s massive infrastructure spending, analysts said Monday.  Doosan Bobcat made a strong market debut on the local stock market in mid-November by raising some [...]

Construction Sector under Gov’t Microscope over Possible Risks

Construction Sector under Gov’t Microscope over Possible Risks

SEOUL, Oct. 31 (Korea Bizwire) – South Korea’s financial authorities said Monday they will scrutinize the financial health and risk factors of major builders in a move to brace for a downturn in the construction business.  The authorities are set to look into the financial health of construction companies based on their semiannual reports while [...]

Seoul Has Second-Fastest Nuke Plant Construction Time Worldwide

Seoul Has Second-Fastest Nuke Plant Construction Time Worldwide

SEOUL, Oct. 11 (Korea Bizwire) – South Korea has the world’s second-fastest construction time of nuclear reactors after Japan, a report from the U.N. nuclear watchdog showed Tuesday, but Seoul’s atomic energy provider said the short period doesn’t affect their safety.  According to the report by the International Atomic Energy Agency, South Korea has built [...]