Samsung C&T is a US$10bn (£8.3bn) contractor active in residential, commercial and industrial buildings and infrastructure and power plant construction. Its projects have included the Burj Khalifa in Dubai, the Petronas Towers in Malaysia and the Mersey Gateway in the UK.
Samsung’s Latvian partner is Forta Pro which specialises in the construction of high-rise large scale modular buildings. It has production facilities in Jelgava and Ventspils and production capacity is currently around 120,000m2 per year.
The company manufactures modular units suitable for the construction of hotels, residential buildings, student accommodation, built-to-rent apartments, hospitals, clinics, bathroom pods and similar projects.
Announcing the partnership, Forta Pro said: “The main intention [is] to scale and advance modular construction technology. This collaboration marks an important step to combine and merge two companies’ industrial know-how and experience, that can turn around conventional construction market practices in Latvia and beyond.”
The two companies aim to increase production capacities in Latvia, boost exports and expand the business internationally. They also have plans to “launch and operate modular construction factories worldwide,” according to Fort Pro.
With investment from Samsung, Forta Pro has formulated a three-year growth plan and aims to become “one of the leading modular manufacturers in the world”. The company currently employs around 400 people and staff numbers are forecast to increase to 700 during 2023.
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