Its partnership with Indonesia's largest builder aims to enter deeper into the Southeast Asian market
Hyundai Engineering & Construction (Hyundai E&C) held a signing ceremony for the memorandum of understanding (MOU) for cooperation in major national projects to be carried out by the Indonesian government in Jakarta on Oct. 9 (local time) with Indonesian state-run construction company PT Hutama Karya.
Hyundai E&C, a major builder in South Korea, said on Oct. 10 that it has signed a partnership with Indonesia's largest builder to enter deeper into the Southeast Asian market.
The builder under Hyundai Motor Group said it is interested in the relocation of the Indonesian capital city from Jakarta to Kalimantan, as well as road and petrochemical plant construction projects.
Hyundai E&C has so far completed 25 construction projects worth $3.1 billion in Indonesia since 1973, a company spokesman said.