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Agreement positions Samsung to take modular construction to the global stage.
South Korean construction and engineering company Samsung C&T has agreed an investment and collaboration deal with Latvian prefabricated building specialist Forta Pro, intending to scale up and advance smart modular construction manufacturing in markets around the world.
Forta PRO is a Latvian based modular construction company, focusing on export markets and specialising in the construction of high-rise, large scale modular buildings with production facilities located in Jelgava and Ventspils, employing 400 people.
Samsung C&T has undertaken some of the world’s most notable high-rise construction projects, including the 828m-high Burj Khalifa in Dubai (currently the world’s tallest building) and the Petronas Towers in Malaysia.
According to company sources, “This collaboration marks an important step to combine and merge two companies’ industrial know-how and experience, that can turnaround conventional construction market practices in Latvia and beyond. By combining export flows of the two companies, it will be possible to substantially increase production capacities in Latvia, boost value-added of the exported products and expand business international reach.”
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Following the investment, the two companies plan to build modular construction manufacturing facilities on a worldwide basis.
Forta Pro said the partnership with Samsung will also allow it to leverage latest technologies to develop innovative new prefabrication products.
The company said it expects to increase staffing levels from its current 400 to around 700 people
