Singapore-listed Koh Brothers Group on Thursday (29 October) announced that it has secured a S$1.12 billion project from Changi Airport Group (CAG), through a joint venture (JV) with Samsung C&T Corporation, for development works to effect three-runway operations at the republic’s international airport.
The group, through its wholly owned subsidiary, Koh Brothers Building & Civil Engineering Contractor, has a 30 percent equity stake in the JV.
The JV, which beat 10 bidders in the tender, wins the first of several contracts to be awarded by CAG for the development of a three-runway system at Changi Airport by the early 2020s. This is also the group’s second time to secure a contract from CAG, the first being the construction of a retention pond at Changi Airport.
In a press release, the JV revealed that the scope of work under the contract include the extension of Runway 3 and the development of a supporting taxiway system linking the runway to the existing Changi Airport—all of which will total about 40 km.
The project will boost Koh Brothers’ construction order book to S$632.0 million.