Korean Posco Keen On MRT, LRT Jobs

KUALA LUMPUR, Dec 22 (Bernama) -- Posco Engineering & Construction Co Ltd (Posco E&C), one of the top five leading construction companies in Korea, has submitted a pre-qualification tender document for a job in the My Rapid Transit (MRT) project. Vice President (Civil Division) Woo-Young Min said the document for the package which includes "track work and third rail" was submitted to MRT Corporation, a company under the Minister of Finance Inc, on Wednesday. "The outcome will be announced in January next year," he told a media briefing here Thursday. As of Wednesday, there are seven other bidders for the job apart from Posco E&C. Min said Posco E&C, together with Posco Engineering Co Ltd (formerly Daewoo Engineering Company) and Asia Communication & Electronic, also participated in the tender for the upgrading of the current 27km network and 17km extension of the Ampang LRT line. The winner of the bid would be announced very soon, he said. He said the company was eager to participate in the Ampang LRT line project and other projects in Malaysia. "This project is similar to the one that we had undertaken in the past. "We plan to employ many local staff and we will also emphasise on technology transfer to local companies if we win the project," he said. The Ampang extension line has 12 new stations, starting from the Sri Petaling station and passes through Kinrara, Puchong, and ends at Putra heights. The project is expected to complete in 2014. Apart from the two projects, the company had a memorandum of understanding (MoU) signed with Berjaya Corporation in July this year. With the MoU, Posco E&C plans to participate in construction projects in Malaysia, taking advantage of Berjaya’s local network and resources. Berjaya, on the other hand will explore possible opportunities for new businesses by utilising Posco E&C’s know-how and experience in urban development and plant construction projects in Korea, Vietnam and Latin America. Min said Posco E&C would set up an operations centre in Malaysia to provide its proven capabilities in a wide range of construction and engineering work, including key signaling in light rail transit. "The location of the operations centre will probably be in Sri Petaling if we win the Ampang LRT line project. We want to be close to Ampang line, if we win the project. We will expedite our plan if we secure this project," he said. The Posco group has already established a presence in Malaysia with Posco Malaysia Sdn Bhd in Port Klang taking over MEGS Industries Sdn Bhd, Malaysia’s only electrolytic galvanised steel coil manufacturer in 2008. In the Posco group, Daewoo International and Posco Plantec have already set up their Malaysian arm. Posco E&C has been the key contractor for several large projects in Korea including the US$1.04 billion Busan-Gimhae LRT and the US$3.1 billion Incheon International Airport-Seoul Mass Transit which are already in operation. Posco E&C is also involved in the US$903 million Ui-Sinseoi Light Rail Subway, US$1.29 billion Daegu third Metro Line and US$2 billion Incheon second Metro Line which are all under construction. -- BERNAMA