Hyundai Engineering & Construction (E&C) is on the cusp of entering the global top 10, having secured the 11th spot in the “Top 250 International Contractors” ranking for 2023, as announced by the U.S.-based construction engineering magazine Engineering News Record (ENR). ENR annually ranks global construction firms based on their business performance. The international sector, in particular, derives its rankings from overseas revenues, excluding domestic sales, and is recognized as a useful metric for assessing stature in the global construction market.
In the past year, Hyundai E&C posted total revenues of US$167.5 billion, of which US$68.3 billion came from overseas, earning them the 11th spot. Regionally, they were ranked 3rd in the Middle East and 5th in Asia. They also achieved top 10 performances in the petrochemical (6th) and power generation (10th) sectors.
This year, Hyundai E&C has been leading the way in the Middle Eastern construction boom, securing major projects such as the construction of Amiral, the largest petrochemical complex in Saudi Arabia, as well as the electric network expansion project linking Yanbu and NEOM City. In Saudi Arabia alone, they are reliably executing 16 large-scale projects.
The company’s upward trajectory in the overseas construction market has led to expanded partnerships with global corporations. They’ve secured an exclusive position as a medium to long-term project partner with Aramco, the world’s largest energy company, and are continuing to form global business alliances with prestigious companies, including participating in the Ukrainian energy rehabilitation market alongside U.S.-based Holtec International, a leading contender in next-generation nuclear projects.