Hyundai E&C is going all out to tap into overseas markets.
Hyundai E&C was awarded a contract worth 819 million dollars, or approximately 899.1 billion won, with its consortium partner Daewoo International Corp.
on March 19 to build combined cycle power plants in Uzbekistan.
This is the first time Korea’s top builder conducts a construction project in Commonwealth of Independent States (CIS).
Hyundai E&C successfully entered the Chinese market, in the spotlight as the world’s biggest construction market, and Central Asia this time, which enabled the company to pave a new “construction Silk Road.”
About 10 officials including Hyundai E&C CEO Jung Soo-hyun, Daewoo International Corp.
Vice Chairman Lee Dong-hee and Uzbekenergo Chairman of the Board of SJSC Basidov Iskandar attended the signing ceremony held in Uzbekistan.
The project awarded by Uzbekenergo includes the construction of two 450-megawatt combined cycle power plants in Talimarjan near the city of Karshi.
The consortium led by Hyundai E&C plans to be in charge of engineering, procurement and construction on a turnkey basis and complete the project in 37.5 months.