Korean dignitaries and delegates from prominent project owners gestures during Global Project Plaza 2015, which took place at Lotte Hotel in Jamsil, Seoul, on June 9. (Photo:KOTRA)

Roughly 500 Korean company officials met with some 70 delegates from 33 foreign project owners at Global Project Plaza 2015, which took place at Lotte Hotel in Jamsil, Seoul, on June 9.

Delegations from the project owners were invited to the event, hosted by the Ministry of Trade, Industry and Energy and organized by KOTRA. 

Global Project Plaza 2015, marking the ninth iteration, served as opportunities for Korean SMEs and apparatus and equipment makers to gain access to the once-unreachable foreign mega-project owners. The event was part of the government’s strategy to offer a helping hand to Korean plant engineering contractors wanting to win foreign projects and translate into action so-called Manufacturing Industry Innovation 3.0. 

The participants discussed such areas as transportation infrastructure, energy, plant, smart cities and engineering, procurement and construction (EPC) partnership. In the transportation infrastructure field, three mega-projects were presented. Hong Kong Air Cargo Terminals plans to begin depositing concrete in a costal area of Hong Kong International Airport in 2016 under the third-phase runway project that will last until 2021. A Korean contractor’s proprietary technology to be employed for the Hong Kong International Airport project — deep cement method (DCM) — is most likely to be awarded the project. 

Thailand plans to invite bids for eight sections of the Southeast Asian country’s high-speed subway project, which is worth $13.9 billion. The $3.5 billion eastward Orange Line Project is to be launched next April for commercial service slated for August 2020. Pending approval from the government with the completion of a feasibility study, the 12.2-km-long line project will involve the construction of eight stations. 

Paraguay’s light rail transit (LRT) project calls for the construction of four LRT sections, totaling some 45 km in length, connecting Asuncion, the capital, and Ypacarai. The $300 million to $400 million project will be launched next year. The Korean Rail Network Authority was awarded a feasibility study last July. 

A $3.5 billion LNG import terminal construction project in Son My, Vietnam, was also presented. 

In the energy and plant sector, Iraq presented downstream EPC partnering projects accompanying financing. Most of the projects involve three-year refinery-related projects plus joint ventures or financing. They include a refinery project in Kerkuk and the Rumaila-Hadith crude oil infrastructure project. 

Indonesia, Saudi Arabia, Poland, Kazakhstan, and India are to invite smart city bids. 

Global EPC companies, including OHL of Spain, CHIYODA of Japan and TEPE of Turkey discussed ways of making joint project biddings with Korean counterparts. The Korea Specialty Construction Association (KOSCA) signed an MOU with joint project collaboration with BI Group, Kazakhstan’s largest contractor. 

“This event will create opportunities for both countries by inviting bids and project winners to promote co-prosperity. We do not spare efforts to provide such support as technology development, expertise manpower development and the operation of a center for supporting for the winning of projects,” Jae-do of MOTIE said in a welcoming speech.

“Owners of projects that could bring fruits in a short period of time have been invited intensively with a focus on projects combining IT and construction and expanding collaboration with global EPC companies,” KOTRA President Kim Jae-hong said.