Yongnam wins S$36.2 million worth of contracts

Singapore

YONGNAM Holdings, a structural steel contractor and specialist civil engineering company, on Thursday announced it won the award of four local contracts worth S$36.2 million.

German chemical company Evonik Methionine (SEA) Pte Ltd awarded a contract for structural steelworks and associated building works in the construction of its plant on Jurong Island.

The complex is expected to become operational in 2019, with investment costs of more than 500 billion euros (S$771 million).

The second contract was from Woh Hup (Private) Limited for a structural steelwork project in a proposed new commercial development.

A joint venture between Hock Lian Seng Infrastructure and Sembcorp Design And Construction awarded the third contract. Yongnam will supply and install cretan structures for the proposed development of Changi East, a project to build a three-runway system at Changi Airport.

In the fourth contract, China Railway First Group Co Ltd Singapore contracted Yongnam for specialised civil engineering works on the Thomson-East Coast Line.

These projects are targeted to be completed between 2018 and 2020.

Yongnam CEO Seow Soon Yong believes the projects "will leverage the company's capabilities and know-how".

Yongnam shares closed unchanged on Thursday, at S$0.20.