The Chao Phraya River in Bangkok (Yonhap News)
The state-run Korea Water Resources Corp., or K-water, has become a preferred bidder for water management projects in Thailand worth 6 trillion won ($5.3 billion).
Thailand’s Water Resources and Flood Management Commission on Monday selected the Korean state-run company as the top bidder for the A-5 and A-3 project sectors, according to the Ministry of Land, Infrastructure and Transport.
The corresponding projects, the former to build floodways and the latter to build reservoirs, are part of the Southeast Asian country’s long-term program to build a comprehensive water management system.
The A-5 project alone accounts for 5.9 trillion won or 53 percent of the total budget, and the A-3 is worth about 380 billion won, officials said.
The project, when confirmed, is to involve seven organizations in total, including the nation’s top builders such as Hyundai Engineering & Construction, Samsung C&T, and Daewoo Engineering & Construction, as well as the Korea Rural Community Corporation.
K-Water entered the bid early last year with high hopes to win the lucrative deal but skepticism rose during the process due to the fierce competition both on technical and price aspects.
The final winner of the bid is expected to be confirmed at the end of the month, according to ministry officials.
By Bae Hyun-jung (tellme@heraldcorp.com)