Hyundai E&C wins $158 mn order for port facility construction in Kuwait

South Korea’s Hyundai Engineering & Construction Co. announced Tuesday it won a 220 billion won ($157 million) deal from Kuwait to add seven berths and improve aging port facilities at the port of Shuwaikh.

A berth refers to a place alongside a quay where a ship loads or discharges cargo. 

The deal, which will take the form of a joint venture with local builder Gulf Dredging, follows the South Korean firm’s $1.2 billion railway deal in the Philippines last week.

Hyundai holds a 70% stake in the project to improve the facilities at the aging Shuwaikh Port, building one berth for bulk freight and six general berths. The southwestern port of the capital city of Kuwait is home to local manufacturers. 

The stake translates to about 154 billion won or $110 million.

The construction is expected to take 36 months from the commencement date. 

“With a bidding strategy that utilizes local resources, we won the contract with price competitiveness and a solid track record,” a Hyundai E&C employee said.

The company is hopeful that it will maintain such a favorable position for its upcoming bids in the region. 

Hyundai E&C first entered Kuwait in 1977 and has completed a total of 64 construction projects in the country to date. 

Write to Eun-Ji Shim at summit@hankyung.com
Jee Abbey Lee edited this article.