Melbourne: GS Engineering and Construction Co. (GS E and C) announced that its Australian subsidiary has been awarded a significant subway tunnel project in Australia, valued at 520.5 billion won (US$373 million). According to Yonhap News Agency, GS Engineering and Construction Australia PTY Ltd. has collaborated with two other companies, including Webuild Australia, to form a consortium that successfully secured the contract from the Suburban Rail Loop Authority. The project, estimated to be worth AUS$1.7 billion, or approximately 1.56 trillion won, involves the construction of a 10-kilometer subway tunnel in Melbourne, with completion expected by 2035. The Australian subsidiary of GS E and C holds a 33.5 percent stake in the construction project, as stated by the company.