Overseas Infrastructure Construction
Hyundai Engineering & Construction is strengthening its large-scale infrastructure construction by signing multiple civil engineering contracts in the Middle East.
On August 13, Hyundai announced that it signed a construction contract for a new harbor in Doha, Qatar worth 335 billion won (US$300.82 million) with multiple foreign companies like the Dutch measurement enterprise Boskalis Corporate.
Hyundai will build small to mid-size vessel docking facilities and connecting paths near the 3rd Northern economic district as a part of the “Doha New Harbor Project” ordered by the Committee for New Harbor in Qatar. This construction is expected to take 30 months. Hyundai’s share in the project is about 208 billion won (US$186 million).
Hyundai also explained that it has better chances for winning 2022 Qatar World Cup-related large-scale infrastructure construction contracts because it has been working with the Qatar government since 2009 on national projects like electricity, road, harbor, and city development.
Hyundai Engineering & Construction expanded its business to Qatar with the construction of the Sheraton Hotel in Doha, Qatar in 1978, and since then obtained a total of 17 orders worth 8.49 trillion won (US$7.583 billion).
A Hyundai E&C representative said, “Starting with the Doha New Harbor construction project, Hyundai will eagerly push to sign other infrastructure construction contracts including Qatar World Cup-related ones.”