Yongnam unit wins S$159m JV contract
A joint venture (JV) between Yongnam Engineering & Construction - a subsidiary of Yongnam Holdings - and Jian Huang Construction Co has won a S$159 million contract for the JTC Food Hub @ Senoko.
The JV will build a new seven-storey ramp-up development in the Senoko Food Zone.
Built on a land area of 33,000 square metres, the development will consist of 50 modular factory units and will feature an integrated coldroom-warehouse facility. When completed, this integrated facility will be operated by a third party logistics service provider, offering logistics to Food Hub tenants.
Construction is expected to commence from this month, with completion slated for the first half of 2017.
Seow Soon Yong, chief executive of Yongnam, said: "We are excited to have secured the JTC Food Hub @ Senoko project, which is a significant milestone that reinforces Yongnam's capabilities and competitiveness."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Electrolux Q1 loss nearly triples on weak demand but beats expectations
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters