Ssangyong Engineering & Construction has won a major hospital construction contract in Singapore worth about $2.15 billion, or roughly 3 trillion won. The company said the project was commissioned by Singapore’s Ministry of Health and is the largest single contract in Ssangyong E&C’s history. The development will include seven buildings ranging from three basement levels to nine floors above ground.
The planned hospital will have 1,534 beds and is expected to take about 63 months to build. Singapore’s National University Health System is set to operate the facility. Ssangyong said its bid was not the lowest-priced offer, but that it scored strongly on design completion, construction-risk management and its record of delivering hospital projects.
The award gives the Korean builder another large reference project in a market where it has previously completed prominent developments including Marina Bay Sands. For Korea’s construction industry, the contract is significant because it shows a domestic company competing on technical evaluation rather than price alone in a major overseas public project. Execution over the next five years will determine whether the win strengthens Ssangyong’s position for further Singapore work.