Hyundai Engineering & Construction Co., South Korea's No. 2 builder, said Wednesday that it has won a deal to build a seawall and other facilities in East Timor for around $720 million.

The deal, which was initiated by the East Timor government, was jointly clinched by its affiliate Hyundai Engineering Co., the builder said in a regulatory filing.

This marked the first contract that the company has ever won from East Timor.

Under the contract, the two units of Hyundai Motor Group will build a seawall and supply facilities to be used for oil development efforts off the southern coast town of Suai.

Hyundai E&C said that it will lead the construction of a 3.3-kilometer-long seawall and others, which takes up 60 percent of the contract value. Hyundai Engineering will be in charge of building those ground-based facilities for offshore oil development.

The construction is expected to be completed in September 2018, the company said. (Yonhap)