On the news that it won the construction contract for the Jangji public bus depot in Songpa District, Seoul, Kumho E&C(002990) is surging 10% on the 23rd.
As of 9:34 a.m. that day, Kumho E&C is trading on the KOSDAQ market at 11,600 won, up 1,180 won (11.32%) from the previous session.
Kumho E&C said that day it won the contract for the "Jangji depot three-dimensional development project construction," ordered by the Seoul Housing and Urban Development Corporation (SH).
This project is a three-dimensional development that maintains the functions of the aging Jangji public bus depot while creating public housing, everyday SOC facilities, and green space in the upper and surrounding areas.
Kumho E&C will carry out the project through a consortium with Dongbu Corporation and Godeok General Construction. The construction is scheduled to break ground in Oct. and aims for completion in Aug. 2030.
The total construction cost is about 350.6 billion won. Kumho E&C's equity is 50%, putting the actual order amount at about 175.3 billion won.