KB News Desk
Samsung C&T Engineering & Construction said Wednesday it signed a memorandum of understanding with Japan’s infrastructure services company Infroneer Holdings to cooperate on global infrastructure development, concession and public-private partnership projects.
Infroneer Holdings is one of Japan’s leading infrastructure operators, with businesses spanning airports, roads, water facilities and stadiums through concession and public-private partnership models.
Under the agreement, Samsung C&T will combine its engineering, procurement and construction capabilities, project management expertise and global network with Infroneer’s experience in infrastructure investment and operations to pursue opportunities in Japan and overseas markets.
Areas of cooperation include infrastructure development and concession projects, overseas public-private partnership ventures, co-investment opportunities and exchanges of technical personnel.
Samsung C&T said the partnership supports its broader strategy of expanding beyond its traditional engineering, procurement and construction business into infrastructure investment, development and operations. As part of that push, the company recently established Samsung C&T Investment, a Japanese subsidiary dedicated to local infrastructure investment and development projects.
“By combining the strengths of both companies, we expect to create greater value in Japan and global markets,” Infroneer Holdings Chief Executive Officer Kazunari Kibe said. “We will actively identify and expand new business opportunities together.”
Samsung C&T Chief Executive Officer Oh Se-chul said the partnership would combine Infroneer’s expertise in investment and development with Samsung C&T’s global project execution capabilities.
“We expect the partnership to create diverse opportunities in Japan and other overseas markets and to further expand cooperation between the two companies,” Oh said.
