Hyundai E&C receives order for power plant in UAE

Industry

Published: 03 Jul. 2014, 21:11

Hyundai E&C receives order for power plant in UAE

Korea’s largest diesel submarine is launched yesterday at Hyundai Heavy Industries’ headquarters in Ulsan. The submarine, which is 65.3 meters long (214 feet) and weighs 1,800 tons, can accommodate 40 crew members. It has a maximum speed of 20 knots per hour and can go as deep as 400 meters. [NEWSIS]

Hyundai Engineering and Construction, Korea’s largest builder, said yesterday that it won a $987.9 million order in the United Arab Emirates after forming a consortium with its affiliate Hyundai Engineering and Italy’s Ansaldo.

The company said that it won the order issued by the Abu Dhabi Water and Electricity Authority to build a power generation and desalination plant in Mirfa, which is 110 kilometers (68 miles) southwest of Abu Dhabi. Construction is expected to take 30.5 months.

Hyundai E&C will receive $715 million from its 72.4 percent stake of the order, while Hyundai Engineering will collect $79 million.