Kumho E&C aims to win Vietnam’s orders

Kumho Engineering & Construction said yesterday it aims to win overseas orders worth 1 trillion won ($876 million) this year, with five orders already set to come from Vietnam alone in the first quarter.

The company plans to win a total of 3.7 trillion won in new orders in 2010, 27 percent of which will come from overseas, company officials said.

In February, the Korean builder won two Vietnamese projects in succession.

On Feb. 25, Kumho E&C signed a contract with Vietnam’s Kinhbac City Development Shareholding Corp. to construct a $50 million Kinhbac Hanoi Tower in Dong Da District in Hanoi.

Earlier in the month, the company won a $113 million project to build a multi-purpose building Times Square in Vietnam.

The Korean builder expects to win three more hotel-building projects in Ho Chi Minh and Hanoi in March, Kumho Industrial said.

“A series of overseas orders is expected to shed negative image of the company that was created due to the debt workout,” a company official said.

The builder’s efforts to interact with Vietnamese people helped win projects there in a short amount of time, the company said.

Especially thanks to the construction of Kumho Asiana Plaza in District 1 in Ho Chi Minh and the decoration of the fence and the street with flowers last year, the company was able to display an eco-friendly image for the Vietnamese people, the company said.

In addition to the construction business, the company is actively engaged in community services such as building homes and offering scholarships for the poor, it said.

“Given Kumho E&C strong standing in Vietnam, there will be no problem in winning 1 trillion won in overseas orders this year,” the official said.

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