Yongnam eyes key ME construction deals

Singapore, December 23, 2008

Singapore-based construction firm Yongnam Holdings said on Tuesday it is eyeing new projects in the Middle East and is in talks with the Abu Dhabi government for infrastructure deals.

The firm is looking at around S$1 billion ($693 million) worth of potential new deals in Singapore, Dubai, India and the Middle East which it hopes will result in new contracts to add to its existing orderbook of S$247 million at end-September, said Yongnam's finance director Chia Sin Cheng.

'We have potential projects and typically for potential projects, we target around 30 to 50 percent success rate for first half of next year,' Chia told Reuters in an interview.

This meant the firm is hopeful of getting at least S$300 million in new projects.

Yongnam, which specialises in steel structures for buildings and infrastructure projects such as metro systems, recently won contracts to build an entertainment centre and parts of the upcoming Marina Bay Sands casino in Singapore.-Reuters

Tags: abu dhabi | deal | Sinagpore | new projects | Yongnam Holdings |