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Hyundai E&C wins orders worth 800 billion won in Singapore and Vietnam

Hyundai E&C wins orders worth 800 billion won in Singapore and Vietnam

Posted December. 26, 2019 07:41,   

Updated December. 26, 2019 07:41


Hyundai Engineering & Construction has won orders worth a combined 800 billion won in Singapore and Vietnam, according to the company.

The South Korean construction company signed a 434.3-million-dollar deal with Singapore’s Land Transport Authority (LTA) to build the North-South Corridor N113 and N115. In a separate deal worth 250 million dollars signed with Vietnamese private real-estate developer KDI, Hyundai Engineering & Construction will be responsible for the Vega City development project in Nha Trang, Vietnam.

For the North-South Corridor project, which aims for completion in November 2026, Hyundai will be building a 4.5-kilometer expressway and exit and entrance ramps in Sembawang, Singapore. In the Vega City development project, Hyundai will be constructing a luxurious 30-story hotel and villa complex with a basement in the resort city of Nha Trang, which is scheduled to be completed in June 2022.

“We’ve won overseas projects worth a total of 4 billion U.S. dollars this year,” Hyundai E&C said. “We can clinch deals worth 1 trillion won in Southeast Asia alone in December this year if we succeed in winning a sports center construction deal, worth about 220 million dollars, which is currently underway in Singapore.

Lee Sae Saem iamsam@donga.com