Home > Business > Industry

Samsung C&T to build development project in Taiwan

Published: 20 Jun. 2023, 18:35

A rendering of Samsung C&T's bid for the Fubon Aozihdi Development Project in Taiwan [SAMSUNG C&T]

Samsung C&T won a 750 billion won ($582.97 million) order to carry out a development project in Taiwan commissioned by Fubon Life Insurance.

The Fubon Aozihdi Development Project includes the construction of a 48-story office building, a 23-story hotel and a 13-story podium connecting the two structures, according to the construction division of Samsung C&T on Tuesday. Situated in Kaohsiung City, Taiwan's second-largest city, the project spans a floor area of 557,000 square meters (137 acres) and will feature amenities such as a shopping mall and an aquarium.

To undertake this project, Samsung C&T has formed a joint venture with a Taiwanese construction company. The total estimated cost of the project amounts to around 1 trillion won, with Samsung C&T's stake estimated at approximately 750 billion won.

Samsung C&T's involvement in Taiwan's construction sector dates back to its first project in 1996. Since then, the company has been engaged in diverse sectors throughout the country, including a high-speed railway, three petrochemical plants and an amusement park.

Notably, in 2021, Samsung C&T won the bid for the construction of the third terminal at Taoyuan International Airport. This ongoing project carries a construction cost of 1.8 trillion won.

BY SEO JI-EUN [[email protected]]