K-Water chosen for biggest share of Thailand's flood prevention project

A Korean consortium headed by state-run Korea Water Resources Corporation, or K-Water, has been selected among preferred bidders in a W6.2 trillion Thai flood prevention project (US$1=W1,128). The project would be the fifth-largest for a Korean company. 

Thailand’s Water and Flood Management Committee announced a list of nine preferred bidders on Monday. 

The Korean consortium was selected as the preferred bidder for a 56 per cent portion of the total W11.5 trillion project. A consortium of Thai and Chinese companies were selected for 38 per cent, while a Thai consortium and a Thai-Swiss consortium are the preferred bidders for a couple of smaller parts worth 5 per cent and 1 per cent. 

K-Water joined hands with Hyundai Engineering and Construction, GS Engineering and Construction, Daewoo Engineering and Construction, Daelim and Samwhan Corporation in the Thai bid. 

Bangkok plans to announce the final bidders around June 18 after negotiating prices with the preferred bidders. K-Water expects few obstacles in getting the final nod.

Thailand has been pushing a nationwide water management system since devastating floods in 2008. Since announcing the bid in July last year, it has conducted preliminary evaluations of bidders.

The massive size prompted fierce lobbying by the leaders of China, Germany and Japan to win the bid. The Korean government also lobbied heavily, the last time being when Prime Minister Chung Hong-won met Thailand’s prime minister and vice premier during the second Asia-Pacific Water Summit in Thailand last month.

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