Hyundai Engineering & Construction (Hyundai E&C) unveiled on June 24 that it has won a deal worth US$719 million to build a seawall and other facilities in East Timor.
The deal was jointly won by Hyundai Engineering Company, another affiliate of Hyundai Motors Group. This is the first contract that the company has ever won from East Timor.
Under the deal, which was initiated by the East Timor government, Hyundai E&C will build a seawall and supply facilities to be used for oil development efforts off the southern coastal town of Suai.
Hyundai E&C said that it will lead the construction of a 3.3 km long seawall and other facilities, 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 Sept. 2018.