A consortium of South Koran builders Ssangyong Engineering & Construction Co. and Daewoo Engineering & Construction Co. has bagged a $740 million worth deal to construct a medical center in Singapore.

The builders said Thursday that they won an order from Singapore Ministry of Health to build a medical complex in Woodlands, north of Singapore. The complex will be built on a 76,600-square-meter site and composed of eight hospital buildings - each seven floors high above ground and four below - with total 1,800 beds. They aim to complete the construction in 33 months.

The consortium also includes Singaporean engineering and construction company Koh Brothers. The three firms set up a joint venture in which the Korean builders own 40 percent stake, respectively, and Koh Brothers remaining 20 percent for the medical complex construction project.

The consortium won the deal against three other strong competitors after going through multiple rounds of evaluations including four on-site visits to hospitals they had built before and various technical competency assessments over a year, according to Ssangyong. Ssangyong previously had built Tan Tock Seng Hospital and KK Women`s and Children`s Hospital in Singapore.

Shares of Daewoo Engineering & Construction ended Thursday were up 0.54 percent at 5,610 won ($5.27) apiece in Seoul trading. Ssangyong Engineering & Construction is unlisted.

By Chun Beom-joo and Cho Jeehyun

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