Hyundai E&C signs deal for railroad in Indonesian province

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Hyundai E&C signs deal for railroad in Indonesian province

Hyundai Engineering and Construction, the nation’s largest builder, said yesterday it signed a memorandum of understanding with Russian builder RZDstroy to take part in a $1.6 billion railroad project in Indonesia.

The MOU was signed in Moscow on Monday. The project is to build a 192-kilometer railroad from a coal mine in the Kalimantan region to the eastern cost. Hyundai E&C said that PT Kereta Api Borneo, a local affiliate of RZDstroy, has already received a license for the project from the regional government.
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