HJ Shipbuilding & Construction Co. (HJ S&C) said on Thursday its construction division secured a 280 billion won ($200 million) contract to build a new port in Cebu, the Philippines.
The project involves constructing a large port facility in Consolacion, 10 km northeast of Cebu port, capable of docking two 2,000 TEU (1 TEU is equivalent to 20-foot container) vessels.
HJ S&C will construct a pier, operational facilities, and access roads, on a reclaimed area of 250,000 square meters by 2027.
The total cost will be 282 billion won ($200.5 million).
The company plans to fund with the South Korean government's Economic Development Cooperation Fund (EDCF) loan.
Since entering the Philippine market in 1973 with the Mindanao Island road project, the company has completed over 80 projects, including roads, ports, dams, airports, and shipyards.
Write to Oh-Sang Yoo at
osyoo@hankyung.com
