Focus on Civil
Engineering and
Environment Plant Projects
GS E&C plans to transfer more weight to civil engineering and environmental plant projects in the days to come from construction and housing projects, which takes up 60 percent of its work at the present time.
The company has been building a research institute on a 20,000 pyeong site in Yongin, Gyeonggi Province at the cost of 30 billion won. When the facility is completed next year, about 100 staff would undertake researches on developing various construction technologies. President Kim, in this connection, told media in May that the company will try to become a top builder in the country under its 2010 Vision.
GS Construction has also been working on a plan to engage in the construction of harbors aiming to become an advanced base for Northeast Asian market. Harbors are crucial in making Korea a hub in Northeast Asia, and the company built an exclusive pier in Yeocheon, South Jeolla Province, to handle 100,000 DWT ships, for LG Chemical, in addition to a product wharf for GS-Caltex and LPG terminal in Incheon, accumulating technologies for building those facilities.
The company has also been engaged in the construction of petrochemical, oil refining, and gas plant projects, which has become a strategic work for the company with the completion of key plant facilities for such oil refiners as GS-Caltex, and Ssangyong Oil. The company, in addition, successfully undertook the construction of VCM/PVC plant in Saudi Arabia and LAB ordered by ICIIC in Iran and Acetic Acid project for Iran? National Petrochemical Co. winning the recognition for its excellent technologies for building those plants.
The company has also been winning overseas construction projects jointly with other Korean firms in consortiums. In July 4, the company in consortium with SK Construction won the order for $660 million placed by ATC in Thailand. The company also won a $600 million oil refining facility project in Qatar jointly with Daewoo Engineering and Construction in April. nw