Ssangyong E&C Wins Record $2.15 Billion Singapore Hospital Contract
The Korean builder secured its largest single-project contract to design and construct a 1,534-bed hospital complex in western Singapore, beating Japanese and Chinese rivals in a technical evaluation.
South Korean builder Ssangyong Engineering & Construction has secured a $2.15 billion contract to design and build a major public hospital in Singapore, marking the largest single-project order in the company’s history.
The contract, awarded by Singapore’s Ministry of Health, covers the planned Tengah General Hospital in the city-state’s western region. Ssangyong E&C said Thursday that it will carry out the project independently rather than as part of a consortium. The value of the order exceeds the company’s consolidated annual revenue, which stood at 1.8 trillion won, or about $1.31 billion, last year. The company reported an operating profit of 64.3 billion won for the same period.
The new medical complex will consist of seven buildings with three basement levels and as many as nine floors above ground. It will provide 1,534 beds and is scheduled to be completed over 63 months, including the design phase. The National University Health System will operate the hospital, which is intended to serve as a core healthcare facility for western Singapore. Plans call for an integrated medical campus equipped for advanced clinical research and digital healthcare services.
Eleven companies entered the bidding process. Ssangyong E&C was the only Korean construction company to clear the prequalification stage, after which four bidders advanced to the final competition. Although the Korean company did not offer the lowest price, it prevailed over Japanese and Chinese competitors in a technical assessment that considered design quality, construction-risk controls and experience with hospital projects.
The award highlights Ssangyong E&C’s effort to compete for complex overseas projects on engineering capability rather than price alone. Hospital construction requires specialized coordination of mechanical systems, patient and staff routes, and controls for vibration and noise, all of which are closely linked to clinical operations and patient safety.
A company official said the project is the first Singapore government hospital contract to combine the entire design and construction process in a single design-and-build package. The official attributed the win to experience accumulated through previous hospital construction work in Singapore and said successful delivery would further strengthen the company’s position in the market.
Ssangyong E&C has a long track record in the city-state, including work on Marina Bay Sands and several hospital projects. The record order also gives the builder a substantial addition to its overseas backlog as it seeks to improve revenue and profitability under Global Sae-A Group, which acquired the company in 2022.