A subsidiary of Yongnam Holdings has clinched a $168 million contract to provide structural steelwork for the Marina One development.

Yongnam Engineering and Construction was awarded the subcontract by the main contractor, a joint venture between Hyundai Engineering and Construction and GS Engineering and Construction Corporation.

The contract brings Yongnam's order book to $397 million and is forecast to boost the group's financials for this year.

Work on the contract is expected to be completed by early 2016.