Hyundai E&C signs deal for railroad in Indonesian provinceHyundai 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.
More in Industry
Hyundai, Naver to work together on connected car systems
SK Telcom merges two security services subsidiaries
KDB requests sit-down with Asiana unions about takeover
Are you Taycan to me?
Facebook hit with $6 million penalty for customer data leak