"New Year Contract" Hyundai Engineering & Construction to Build 613 Billion KRW Building in Qatar

[Asia Economy Reporter Kim Yuri] Hyundai Engineering & Construction announced on the 2nd that it has secured a contract worth 613 billion KRW for the Lusail Plaza Tower PLOT4 project in Qatar, Middle East, on the first trading day of the new year.

Hyundai Engineering & Construction stated, "We have received the Letter of Award (LOA) for the Lusail Plaza Tower PLOT4 project, commissioned by a Qatari real estate development company," adding, "This contract is significant as it is the first project won in the new year following consecutive orders in Southeast Asia at the end of last year."

The Lusail Plaza Tower PLOT4 project, solely contracted by Hyundai Engineering & Construction, involves constructing an office building with 5 basement floors and 70 above-ground floors in the Lusail City Financial District area of Qatar. The construction period is 34 months from the start of work, aiming for completion by the end of October 2022.

A Hyundai Engineering & Construction official evaluated, "This contract is the result of Hyundai Engineering & Construction's continuous construction experience and technological capabilities in Qatar, a traditional stronghold in the Middle East, as well as the accumulated trust with the client."

Meanwhile, since first entering Qatar in 1979 with the Doha Hotel and Conference Center project, Hyundai Engineering & Construction has secured a total of 22 projects worth 9.4 billion USD, including the Ras Laffan C IWPP project, QAFCO fertilizer plant phases 5 and 6, Hamad Medical City phase 2, and Lusail Highway project.

Currently, Hyundai Engineering & Construction is carrying out four projects worth 2 billion USD, including the Al Maha Pediatric and Adolescent Medical Center and the Al Bustan Road project in Qatar.

A Hyundai Engineering & Construction official said, "Last year, we successfully completed regional landmarks such as the National Museum and Lusail Highway in Qatar," adding, "We will continue to secure overseas construction projects based on Hyundai Engineering & Construction's abundant experience and technological capabilities."

This content was produced with the assistance of AI translation services.