Yongnam nabs two construction contracts with combined worth of $49.5m

Its orderbook now has $119.3m worth of new projects.

Yongnam Holdings is on a spree of contract wins, as it has bagged two construction deals with a total value of $49.5m not long after its February chain of deals.

According to the company’s news release, the two projects include a structural steelwork subcontract for the proposed 19-storey mixed-use development which houses the future Outram Community Hospital (OCH) in Singapore, and a specialist civil engineering subcontract for the Hong Kong MTR Shatin to Central Line Cross Harbour Tunnel.

Yongnam’s scope of work under the OCH contract involves the supply, fabrication, and erection of structural steelwork supports, as well as other structural components. It was awarded by the main contractor, Penta Ocean Construction Co., Ltd (Penta Ocean).

Meanwhile, the Hong Kong subcontract involves the provision of temporary shoring and working platform for the cut and cover portion of the MTR Shatin to Central Line Cross Harbour Tunnel. This was awarded by a joint venture between Penta Ocean and China State Construction Engineering (Hong Kong) Ltd.

This comes after Yongnam’s string of contract wins last month worth a total of $69.8m in Singapore and the Middle East. Together with the two latest deals, the group’s orderbook holds $119.3m worth of new projects this year to-date.

Yongnam expects the two contracts to positively impact the group’s financial performance for the year.

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