Construction: After 2 years of delay due to financing woes, the Spore Sports Council has finally inked the contract with Spore Sports Hub Consortium (SSHC) to design, build, finance & operate the Singapore Sports Hub for the next 25 years. Demolition of the National Stadium will start in Oct 10 & the new sports complex will be ready by Apr 14. The construction cost is $1.33bn, revised down from the original $1.87bn & the govt will foot the bill in annual payments.
The consortium partners comprise Dragages (part of French construction giant, Bouygues Construction) Global Spectrum Asia (JV betw Pico & Comcast Corp), UGL Premas (facility mgmt) & HSBC Infrastructure Fund Mgmt. While Dragages will be the maincon for this project, we expect sub-contracts to be farmed out in the areas of foundation works, structural steelworks, crane svcs, etc. The potential beneficiaries include construction plays Yongman, CSC, Tat Hong, Hock Lian Seng, OKP.
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