Penta-Ocean wins 2 Singapore contracts worth $277 mil.
SINGAPORE, NNA – Penta-Ocean Construction Co. has won two contracts, including a key government building project, worth a total of SG$380 million ($277 million) in the city-state.
The Singapore branch of the Japanese company will oversee the construction of a new building for the headquarters of Singapore's Immigration & Checkpoints Authority (ICA) as well as the retrofitting of its existing building. The contract by the Ministry of Home Affairs costs SG$276 million.
Worth SG$104 million, the second contract is for electrical works for the new campus of Singapore Institute of Technology (SIT).
Penta-Ocean will build a 10-storey annex building for ICA’s new Integrated Services Centre in Lavender Street, not far from the heart of the city. It will be adjacent to the existing 10-storey immigration services building which will be extensively renovated.
To be ready in 2023, the new Integrated Services Centre will integrate digital systems with biometric and automation technologies to serve customers better. It is part of the immigration authority's efforts to enhance operational efficiency while offering more convenient and secured services.
To Penta-Ocean, this project has much significance. Apart from being a key facility of the Singapore government, it also offers another opportunity for the company to strengthen its role in retrofitting and upgrading, an area which is expected to grow further in Singapore.
Meanwhile, the company's subsidiary, UG M&E, has won a project as a subcontractor to carry out electrical works at the construction of Singapore Institute of Technology's new campus in Punggol North. The two-plot 91,000 square-meter university campus can accommodate about 12,000 students when completed.
This is the first large-scale project to be undertaken by the electrical and mechanical works company after it joined the group.
As part of its diversification plan in the construction sector, Penta-Ocean acquired UG M&E in June. It is a leading M&E engineering contractor in Singapore.
The group will leverage and synergize the strengths of its building and electrical arms to carry out future projects.
"We believe that in order to achieve sustainable growth in our building construction sector in Singapore, it is necessary to diversify our business scale, building usage, construction fields, as well as to strengthen our business foundation, including our technological capabilities and human resources," it added.
The Singapore branch of the company is also its most important international base for expanding overseas business.
Since the establishment of the Singapore branch in 1964, the company had carried out numerous large-scale civil engineering and building construction projects. More recently, it has been focusing on new large-scale projects such as hospitals.