SINGAPORE�Singapore's largest industrial landlord and developer, Jurong Town Corp. (JTC), has begun its latest phase in developing Jurong Island�the city-state's petroleum and chemical megacomplex�with the award of two big reclamation contracts worth a combined $3.02 billion (US).
The larger contract, valued at $2.06 billion, went to a consortium comprising Penta Ocean Construction, Koon Construction & Transport, Hollandsche Aanneming Mij., Dredging International, and Boskalis International. The group will reclaim 550 hectares of land for Jurong Island plus half of a 1,906-hectare parcel of land at Tuas View Extension to meet the demands for land by the growing petroleum, petrochemical, and chemical industries, plus supporting businesses.
Meanwhile, another consortium�this one comprising Hyundai Engineering, Van Oord ACZ, and Ballast Nedam Dredging�will reclaim the other half of the land at Tuas View. Its bid was estimated at more than $958 million (US).
The reclamation works, which will start at the end of June, are expected to be completed in 65 months.
A total of 14 companies were short-listed to tender for the projects.
