Yongnam JV wins $412.7m contract for North-South Corridor in Singapore
May 25, 2018 – A joint venture between Singapore-based Yongnam Holdings and Hong Kong-based Leighton Asia has won a SGD553.8m ($412.7m) tunnel and infrastructure contract from the Land Transport Authority for the design and construction of a part of the North-South Corridor (NSC) project in Singapore.
Yongnam holds 30% stake in the joint venture with Leighton Asia, part of CIMIC Group of Australia, owning the remaining 70%.
Work under the N103 design and construction contract includes a 640-metre section of tunnel with an entry ramp and an exit ramp between Kampong Java Road and Suffolk Walk, three-lane vehicular tunnels, the underpinning of an existing expressway flyover and a new facility building.
The contract also includes the provision of commuter facilities and the widening of Rochor Canal.
Work under the contract will commence in the second quarter of 2018 and be completed by 2026. The NSC is also expected to be completed by 2026.
The North-South Corridor project, Singapore’s first integrated transport corridor, is expected to relieve major traffic network congestion and offer better connectivity between the northern sectors of Singapore and the central city area.
The North-South Corridor will feature continuous bus lanes and cycling trunk routes.
According to the LTA, dedicated bus lanes for express bus services will reduce travelling time from Woodlands, Sembawang, Yishun and Ang Mo Kio to the city by up to 30 minutes, and make bus connections faster between residential towns along the NSC.
Yongnam CEO Seow Soon Yong said: “Through our joint venture, we are delighted to secure the group’s first design and construction contract under the North-South Corridor project.
“The award of this major transport infrastructure works contract reflects the confidence our business partner and client have in the group’s competencies and track record to develop Singapore’s first integrated transport corridor to connect towns in the northern region to the city centre.”
He said the group will continue to participate in bidding for major public sector infrastructure projects in Singapore, Hong Kong, Australia, Malaysia and the Middle East.