May 16, 2020

Samsung C&T among contractors for $860mn Singapore North-South Corridor tunnel

Samsung C&T Corporation
Leighton Contractors
Yongnam Engineering & Construction
Singapore construction
Tom Wadlow
2 min
Singapore
Singapore’s Land Transport Authority has selected contractors for its North-South Corridor (NSC) road tunnel project.

Two civil contracts worth a co...

Singapore’s Land Transport Authority has selected contractors for its North-South Corridor (NSC) road tunnel project.

Two civil contracts worth a combined $860mn have been awarded to Samsung C&T Corporation and a joint venture between Leighton Contractors and Yongnam Engineering & Construction.

Samsung C&T will be responsible for the construction of a section of the NSC tunnel between Toa Payoh Rise and Marymount Lane – a 1.37km stretch valued at $448mn.

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Samsung C&T Corporation is an established contractor in South Korea and has completed numerous road and railway infrastructure projects in the country and abroad, including in Singapore.

Its Singapore portfolio includes a 1.75km stretch of the Marina Coastal Expressway, the North-South Line’s Marina South Pier Station as well as the Downtown Line 3’s Expo and Upper Changi Stations.

Leighton Contractors and Yongnam Engineering & Construction will complete the other tunnel section between Kampong Java Road and Suffolk Walk, a 0.64km section valued at around $370mn.

The 21.5km NSC is Singapore’s first integrated transport corridor, featuring continuous bus lanes and cycling trunk routes, and is expected to be completed in 2026.

Leighton also has a track record in Singapore. Already well-established in Australia, the company has completed work on the Jalan Besar Station and tunnels on the Downtown Line. It is also currently involved in the construction of Springleaf Station on the Thomson-East Coast Line.

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Jun 16, 2021

France to invest €1.8bn in Egypt’s infrastructure

AFD
Infrastructure
investments
projects
2 min
France is making a €1.8bn investment into Egypt’s infrastructure with upgrades to the Cairo Metro and a railway to Sudan

France will invest a total of €1.8bn into Egypt’s infrastructure focusing specifically on upgrading the Cairo Metro, building a railway to Sudan, and developing water and energy schemes. Officials have called the investment a “major boost to bilateral cooperation”. 

The Cairo Metro

Included in the financing is a concessional government loan of around €800mn to upgrade Line 1 of the Cairo Metro, introduced in the 1980s. The financing will pay for 55 trainsets for the line and is provided by the French engineering company, Alstom.  

Line 6 is also due to be upgraded using further state-guaranteed loans worth up to €2bn. Bruno Le Maire said that this would be negotiated over the next six months. France and Egypt have worked in close cooperation ever since Abdel Fattah al-Sisi became president in 2014, despite differences over human rights and strong criticism of Egypt by rights activists and some foreign states.

Nine more projects over the next half a decade

A further €1bn from France’s development agency, Agence Française de Développement (AFD), aims to cover a range of other projects over the next half a decade. 

These projects include a railway line between Aswan, southern Egypt, and Wadi Halfa in Sudan, as well as several projects in the renewable energy and water purification industries. Bruno Le Maire, France’s Finance Minister, said Egypt was a “strategic partner and commercial dealings with it would be developed. France will substantially increase its direct exposure to Egypt, becoming the first counter-party for government to government loans,” he said.

According to Le Maire, the AFD will also €150mn to support the construction of a universal health insurance programme. French contractors such as Vinci and Bouygues have a long history of working on the Egyptian capital’s underground system. 

Talking about the relationship between France And Egypt, Le Maire concluded: “France will substantially increase its direct exposure to Egypt, becoming the first counter-party for government to government loans”. 

Image: MEED

 

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