The project involves constructing nearly 10 kilometers of tunnels using specialized tunnel-boring machines designed to excavate tunnels through rock or soil, as part of the Suburban Rail Loop (SRL) East.
The deal also includes the construction of 39 escape routes and two underground stations in the eastern section of Melbourne's suburban rail loop.
The total project cost is around AU$1.7 billion, with GS E&C's Australian subsidiary holding a 33.5 percent stake. The company will carry out the work in a joint venture with WeBuild and Bouygues Construction Australia, which hold 33.5 percent and 33 percent stakes respectively.
Construction is set to begin this year, and the project is expected to be completed and operational by 2035 after subsequent system installation works.
The SRL East subway project aims to build a new 90-kilometer urban railway network in Melbourne, including six new stations. Upon completion, this rail network is expected to play a crucial role in connecting different regions of Melbourne and boosting the economic growth of the state of Victoria.
"Reaching this contract award is a major milestone for us and for Melbourne's future," said GS E&C Australia's managing director Steve Sung-han Cho. "Suburban Rail Loop will create long-term benefits for Victoria's economy by fostering local business growth and generating employment opportunities."
GS made a foray into the Australian market in 2021 with the Melbourne North East Link (NEL) project, one of the largest infrastructure projects in the country, with a total cost of 10 trillion won ($7.1 billion).
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