Minister welcomes new Korean investment in the Gold Coast
Published Friday, 03 October, 2008 at 12:35 PM
Minister for Transport, Trade, Employment and Industrial Relations
The Honourable John Mickel
One of Korea’s largest engineering and construction companies has opened a new office on the Gold Coast to support its growing investment in Queensland.
Minister for Trade John Mickel said he had met with the Vice President of Lotte Engineering and Construction Co. Ltd during his trade mission to Korea in June to discuss and offer support for the company’s growing interest and investment in Queensland.
“I welcome Lotte Engineering’s latest investment in Queensland. Establishing a local presence on the Gold Coast is a strong endorsement of the investment value that can be realised from our State’s infrastructure and housing construction projects,” Mr Mickel said.
“Lotte Engineering and Construction opened its branch office in Paradise Point as a base to manage current Queensland projects and investigate future investment opportunities.
“The new office will employ 3 Queensland-based staff and will contribute to ensuring the company’s current potential investment of over $750 million in Gold Coast real estate projects bears the right fruit.
“The company’s Gold Coast investment commitment includes $552 million for the construction of 470 new houses in Little Beach, due to commence this month and reach completion in November 2011. The company is also close to finalising a deal to invest a further $216 million in a Southport residential development for the mature aged.
“Both projects will present business opportunities for Queensland’s own highly skilled and professional construction, engineering and building services industries.”
Mr Mickel said that Trade Queensland’s Korea Office had assisted Lotte's market research and organised introductions to local project managers for the Southport project.
“Lotte Engineering and Construction’s decision to invest in Queensland and establish a local presence, with the assistance of Trade Queensland sends a positive signal and puts a clear investment pathway in front of other Korean organisations looking to invest overseas.
“I congratulate Lotte Engineering and Construction on choosing our State as a stable and productive destination for the company’s investment dollars. The Government looks forward to working with them as they link in with our experienced Queensland companies,” Mr Mickel said.
Lotte Engineering and Construction was established in 1952. In 2007 its total contracts reached $8 billion globally. The company provides a wide range of construction services, from residential to commercial building construction (apartments, hotels, department stores and factories) and related infrastructure (roads and bridges). Lotte Engineering and Construction is a specialist in the construction of luxurious residential housing. Visit Lotte Engineering’s website www.lottecon.co.kr/eng/index.jsp for more information.
Media contact for Minister Mickel: Jane Rowe 3237 1125 or Nathan Moir 3235 4060
3 October, 2008
Minister for Trade John Mickel said he had met with the Vice President of Lotte Engineering and Construction Co. Ltd during his trade mission to Korea in June to discuss and offer support for the company’s growing interest and investment in Queensland.
“I welcome Lotte Engineering’s latest investment in Queensland. Establishing a local presence on the Gold Coast is a strong endorsement of the investment value that can be realised from our State’s infrastructure and housing construction projects,” Mr Mickel said.
“Lotte Engineering and Construction opened its branch office in Paradise Point as a base to manage current Queensland projects and investigate future investment opportunities.
“The new office will employ 3 Queensland-based staff and will contribute to ensuring the company’s current potential investment of over $750 million in Gold Coast real estate projects bears the right fruit.
“The company’s Gold Coast investment commitment includes $552 million for the construction of 470 new houses in Little Beach, due to commence this month and reach completion in November 2011. The company is also close to finalising a deal to invest a further $216 million in a Southport residential development for the mature aged.
“Both projects will present business opportunities for Queensland’s own highly skilled and professional construction, engineering and building services industries.”
Mr Mickel said that Trade Queensland’s Korea Office had assisted Lotte's market research and organised introductions to local project managers for the Southport project.
“Lotte Engineering and Construction’s decision to invest in Queensland and establish a local presence, with the assistance of Trade Queensland sends a positive signal and puts a clear investment pathway in front of other Korean organisations looking to invest overseas.
“I congratulate Lotte Engineering and Construction on choosing our State as a stable and productive destination for the company’s investment dollars. The Government looks forward to working with them as they link in with our experienced Queensland companies,” Mr Mickel said.
Lotte Engineering and Construction was established in 1952. In 2007 its total contracts reached $8 billion globally. The company provides a wide range of construction services, from residential to commercial building construction (apartments, hotels, department stores and factories) and related infrastructure (roads and bridges). Lotte Engineering and Construction is a specialist in the construction of luxurious residential housing. Visit Lotte Engineering’s website www.lottecon.co.kr/eng/index.jsp for more information.
Media contact for Minister Mickel: Jane Rowe 3237 1125 or Nathan Moir 3235 4060
3 October, 2008