A joint-venture (JV) between Penta-Ocean and Koh Brothers Eco Engineering (SGX:5HV
) won a $999 million contract for underground tunnels housing automated people-mover systems, while a China Communications Construction Company and Obayashi JV was awarded a $3.8 billion substructure package for the terminal and ground transport centre.
UOB Kay Hian (UOBKH) analyst Hedi Mo has kept her "overweight" call on Singapore’s construction sector, citing the industry’s entering of a “new growth phase” while being underpinned by major infrastructure such as Changi Airport’s Terminal 5 (T5), Tuas Mega Port, and the Marina Bay Sands expansion.
On T5, Mo notes that Changi Airport Group (CAG) has recently awarded $5.75 billion in contracts to local construction players.
