Hyundai E&C, Surbana Jurong to team up on power projects

South Korea's Hyundai Engineering & Construction Co. (Hyundai E&C) established a cooperative network with Singapore's largest public-sector engineering consultancy to expand its entry into new energy businesses.

Hyundai E&C said on Thursday that it signed a memorandum of understanding (MOU) with Surbana Jurong Pte Ltd, a Singapore-based public sector engineering consultancy, at The Ritz-Carlton, Millenia Singapore on Tuesday.

The MOU focuses on joint research and technology exchange in next-generation power projects, renewable energy, and carbon reduction.

Surbana Jurong is the largest public-sector engineering consultancy in Singapore, providing advisory services for national projects, including global city planning, infrastructure, and management services.

Under the MOU, Hyundai E&C and Surbana Jurong will collaborate on technology exchange and infrastructure development in next-generation power projects, renewable energy (hydrogen, solar, wind), carbon capture and storage (CCS), and construction automation and robotics.

The two companies also plan to strengthen their capabilities by jointly conducting the Singaporean government's research projects.

This partnership is expected to lay the foundation for Hyundai E&C to enter Singapore's national energy transition projects and enhance competitiveness in related sectors.

On the same day, Hyundai E&C signed another MOU with Hyundai Motor Co. and Singapore's Nanyang Technological University (NTU) to pursue joint research and demonstration projects in new energy fields, such as resource-circulating hydrogen and next-generation power projects.

Since 2016, Hyundai E&C has operated a joint research lab with NTU, focusing on research and development in areas such as recycling contaminated dredged soil, desalination, and floating offshore platforms.

With this new agreement, the company plans to strengthen its industry-academia cooperation and solidify its group-wide foundation for entry into Singapore's energy innovation and new business sectors.

Singapore focuses on securing low-carbon energy and establishing a hydrogen energy infrastructure to achieve "net zero" by 2050.

Write to Eun-Ji Shim at summit@hankyung.com