[Asia Economy Reporter Onyu Lim] On the 12th, the Overseas Construction Association announced major cases in the construction sector where Korean overseas construction companies received awards from key international organizations in 2022. It was found that Korean overseas construction companies are recognized for their world-class competitiveness in various areas such as technology, execution capability, and finance based on advanced technology and know-how.
Looking at each sector, first, the excellence of technology stood out among Korean overseas construction companies. DL E&C and SK Ecoplant jointly carried out the Turkey ?anakkale Bridge (Malatya-?anakkale Expressway BOT project) and received the European Steel Bridge Awards 2022 from the European Convention for Constructional Steelwork (ECCS). The ?anakkale project, a BOT-type public-private partnership (PPP) project, was evaluated as having established the two companies as global developers capable of creating high value-added profits by handling everything from project discovery and planning to financing, construction, and operation.
GS Engineering & Construction’s subsidiary GS Inima received the Desalination Plant of the Year award at the 2022 Global Water Awards hosted by Global Water Intelligence (GWI), the world’s most prestigious water industry research organization, for the Atacama seawater desalination plant project in Chile.
Daewoo Engineering & Construction received the Environmental Best Performer award from PT Pertamina Gas National, the Indonesian Gas Company, for the execution of the Indonesia Tangguh LNG Train 3 Phase 2 project, and also received the 2022 ACECC Civil Engineering Award from The Asian Civil Engineering Coordinating Council for the construction of the Al Faw West Breakwater in Iraq.
Heerim Architects & Planners received the High Quality Construction Prize in 2022 from the Vietnamese Ministry of Construction for performing design and supervision (architectural supervision) services for the THT Phase 1 project (apartments and villas). The project also showed remarkable achievements in aspects requiring extensive know-how such as project management.
Doha Engineering received a Completion Award from the Quang Binh Provincial People’s Committee (QuangBinh PPC) for the construction of the Le Thuy Doha solar power plant in Vietnam under a PPP scheme, and Yushin received a Letter of Appreciation from the Civil Aviation Authority of Nepal (CAAN) for the Nepal tourism infrastructure development project (Gautam Buddha Airport improvement project).
Samsung Engineering achieved the MEED Project Award from MEED, the Middle East’s leading economic magazine in the MENA region, for its ethylene glycol production facility (Saudi Arabia) and clean fuels project (Kuwait), marking 11 consecutive years of annual awards since its first win in 2012.
Additionally, the ability to secure overseas construction financing, which is increasingly important in overseas construction, has also gained global recognition.
Hyundai Engineering & Construction achieved the 2021 Deal of the Year from Latin Finance (USA) and the TXF Export Finance Deals of the Year from Trade Export Finance (UK) for the Panama Metro Line 3 project. Their capabilities were also recognized in site management, a major part of project execution.
Lotte Engineering & Construction received a commendation for achieving zero accidents from the Ministry of Labour - Invalids and Social Affairs of Vietnam for the new construction of Lotte Mall Hanoi, and Hyundai Engineering & Construction received the WSH SHARP Award 2022 for excellent safety management from the Workplace Safety & Health Council (WSH Council) for the North-South Expressway N115 project in Singapore. In addition, they received appreciation plaques from client countries and local governments through social contribution activities.
SK Ecoplant received a Certificate for Appreciation for recovery support and rescue activities following large-scale flood damage in the UAE in July 2022, and Hyundai Engineering received the Keep Doral Beautiful Award from the City of Doral for the renovation of the Kia Motors office in Miami, USA.
An official from the Overseas Construction Association said, “Despite the difficult situation in 2022, which started with expectations of economic recovery from the pandemic but fell into a complex crisis due to global supply chain restructuring, high inflation, high interest rates, and high exchange rates, our overseas construction industry was recognized for its technology, expertise, and know-how by major international organizations and governments and clients in the countries where we operate.”
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