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Ryobi Kiso acquires $11.3m Contract In Vietnam
Publish Date : 12-Jul-2011
Ryobi Kiso Holdings’ subsidiary, Raffles Piling Vietnam Co, together with its joint venture partner, Phu Cuong Co, have been awarded a Vietnamese dong 191b ($11.3m) contract by SSG Van Thanh Joint Stock Company in Vietnam. This is also Ryobi Kiso’s biggest contract secured to date in Vietnam.
The contract is for foundation works for the SSG Tower at Binh Thanh District in Ho Chi Minh City. SSG Tower is a mixed-use development comprising commercial, office and apartments. Work on the project begins this month and is expected to take six months.
Ryobi Kiso will undertake the bored piling, diaphragm walling and deep cement mixing for SSG Tower. Since 1 Apr-11, the group has secured total contracts worth $35.2m, inclusive of this contract in Vietnam. As at 31 Mar-11, the group’s order book stood at approximately $75.1m.
As per Ong Tiong Siew, the executive director and CEO of Ryobi Kiso, acquisition of this project highlights the company\'s growth strategy in diversifying revenue streams across countries, business segments and clients.
