Hyundai wins contracts in Saudi Arabia, Libya

The Hyundai Engineering & Construction Co., Ltd., which belongs to the Southern Korean Hyundai group on Tuesday won contracts in Libya and Saudi Arabia, at a total value of US $297 million.

In a statement released in Seoul, the company said that one of the contracts, estimated at US $247 million, is for developing a gas field for the Syrte Oil Company in Libya and that implementation of this project will start this month and is expected to be completed in April, 2002.

The statement added that the second contract is at a value of US $50 million and it was reached with the United Saudi Company for Electricity in the central region. It added that the Saudi project calls for carrying out maintenance work and equipment at a station for thermal power station. This project will be completed in February, 2001.