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Koh Brothers reveals JV partners for Woodlands Health Campus deal
CATALIST-listed Koh Brothers Eco Engineering on Thursday announced that Ssangyong Engineering & Construction and Daewoo Engineering & Construction are its joint venture partners for the building of the upcoming Woodlands Health Campus (WHC), touted as Singapore's first "smart" hospital.
In an earlier statement last week, Koh Brothers announced that its unit - Koh Brothers Building & Civil Engineering - had clinched a deal through a consortium in which it has a 20 per cent stake, but did not disclose its partners.
The 788 billion won (S$970 million) deal will boost Koh Brothers' order book from S$762.7 million as at Dec 31, 2017 to S$954.7 million.
The 1,800-bed WHC - set to be completed by 2022 - will comprise an acute care hospital, a community hospital, a nursing home and specialist outpatient clinics, marking the first time that all facilities are conceptualised and built simultaneously, the companies said.
"The goal is for future patients to enjoy seamless accessibility across the acute, intermediate and community care settings. The campus will achieve this by leveraging smart technologies and intuitive design, to enhance care within the hospital, and extend the reach of our healthcare professionals into the community."
Ssangyong, Daewoo and Koh Brothers have been working on this deal since December 2016.
South Korean construction giant Ssangyong was involved in the building of Marina Bay Sands and stations for the Downtown Line 2 project, while Daewoo was responsible for the construction of the Thomson-East Coast Line's Stevens station and tunnels.
Shares in Koh Brothers Eco Engineering last traded 4.8 per cent, or 0.4 Singapore cent higher to close at 8.7 Singapore cents on Thursday.