Yongnam's unit and joint venture partner win $159 million contract

SINGAPORE - A new development at the JTC Food Hub in Senoko Food Zone worth $159 million will be built by Yongnam Engineering & Construction, and Jian Huang Construction.

Singapore-based engineering and construction group Yongnam Holdings said on Monday that its unit has a joint venture with Jian Huang, and the contract will see them build a seven-storey ramp-up development on 33,000 square metres.

This will have 50 modular factory units with space configuration flexibility, with an integrated coldroom-warehouse facility.

The facility will be operated by a third party logistics service provider, and the plan is to offer a full suite of logistics services to the food hub's tenants.

Construction is expected start this month (March 2015, and slated to be completed in the first half of 2017.

Mr Seow Soon Yong, Yongnam's chief executive, said: "We are excited to have secured the JTC Food Hub @ Senoko project, which is a significant milestone that reinforces Yongnam's capabilities and competitiveness."

The firm added this project comes on the back of a string of recent contracts secured.

It won two mechanical and specialist civil engineering contracts worth $22.8 million for projects in Singapore and Hong Kong last December.

Last November, it won three contracts in Singapore worth $93.1 million. These jobs include structural steelwork for Project Jewel at Changi Airport, and specialist civil engineering projects for the Thomson-East Coast MRT Line.

The firm said the food hub project is expected to have a favourable impact on its financial performance for the year ending Dec 31.