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Hyundai Engineering & Construction Co., South Korea’s leading builder, said Thursday that it has won a $2.06 billion deal to build a bridge in Kuwait with a local firm.
Under the contract with Kuwait’s Minister of Public Works, Hyundai E&C will build a 36.14 kilometer-long bridge from Shuwaikh Port near Kuwait City to Subiyah in the central region, said the company in a filing.
The South Korean builder will have a 78.5 percent stake in the $2.62-billion project, or $2.06 billion, while Kuwait’s Combined Group Contracting Co. will receive the rest.
Construction of the road will be completed 60 months after work begins, said Hyundai E&C, without giving a detailed groundbreaking date.
The bridge will link Kuwait City with the new town of Subiyah with some 700,000 residents.
The latest Kuwait deal helped Hyundai E&C secure a cumulative $90 billion in overseas orders this year, according to the company. (Yonhap News)
Under the contract with Kuwait’s Minister of Public Works, Hyundai E&C will build a 36.14 kilometer-long bridge from Shuwaikh Port near Kuwait City to Subiyah in the central region, said the company in a filing.
The South Korean builder will have a 78.5 percent stake in the $2.62-billion project, or $2.06 billion, while Kuwait’s Combined Group Contracting Co. will receive the rest.
Construction of the road will be completed 60 months after work begins, said Hyundai E&C, without giving a detailed groundbreaking date.
The bridge will link Kuwait City with the new town of Subiyah with some 700,000 residents.
The latest Kuwait deal helped Hyundai E&C secure a cumulative $90 billion in overseas orders this year, according to the company. (Yonhap News)
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Articles by Korea Herald
