Hyundai Engineering, 6 Years Since Integrated Corporation Launch... "No.1 in Overseas Orders"

[Asia Economy Reporter Yuri Kim] Hyundai Engineering announced on the 27th that since its merger with Hyundai EMCO in 2014, it has recorded overseas orders worth approximately $31.3 billion (about 38.6398 trillion KRW) over about six years until last year, ranking first in the industry. The $31.3 billion in overseas orders after the merger is 1.5 times more than the overseas orders recorded in the 16 years before the merger.

According to Hyundai Engineering, as of April this year, it has been exactly six years since Hyundai Engineering, a construction company affiliated with Hyundai Motor Group, merged with Hyundai EMCO. The company stated, "the merger of Hyundai Engineering, specialized in overseas plant EPC (Engineering, Procurement, and Construction), and Hyundai EMCO, which has strengths in building and infrastructure construction, attracted great attention in the industry as a merger between large construction companies affiliated with Hyundai Motor Group at the time," adding "by combining existing plant design capabilities with construction capabilities through the merger, Hyundai Engineering has solidified its position as an EPC company over the past six years."

After the merger, in September 2014, Hyundai Engineering secured an order worth $2.66 billion for the "Uzbekistan Kandym Gas Processing Facility Project," and in 2015, it won a $3 billion order for the "Polyethylene and Polypropylene Production Facility" in Turkmenistan. Hyundai Engineering continued steady overseas business, achieving overseas orders worth $31.3 billion over six years. Based on this, Hyundai Engineering surpassed a cumulative overseas order amount of $50 billion by the end of 2019. It is also evaluated as having succeeded in market diversification. By region, orders were distributed as follows: Europe 16%, Southeast Asia 16%, Central Asia 28%, Middle East 14%, and the Americas 10%.

Hyundai Engineering secured a $2.93 billion order for the "Kuwait LNG Import Terminal Project" in 2016, followed by an $1.1 billion order in May 2019 for the Polish "Propylene & Polypropylene Production Facility" project. In the same year, in September, it won a $3.97 billion order for the "Balikpapan Refinery Upgrading Project" issued by Indonesia's state-owned oil company Pertamina, and in February this year, it secured an additional $360 million order. The company said, "Starting this year, we will complete a high value-added order platform that links basic design (FEED) to EPC orders through the advancement of plant design technology capabilities."

Based on stable performance, Hyundai Engineering ranked 10th in construction capability rankings in the first year of the integrated corporation's launch in 2014, rising to become one of the top 10 construction companies. In 2019, it ranked 7th, further solidifying its status as a top 10 construction company. A Hyundai Engineering official said, "Hyundai Engineering has succeeded in composing a balanced portfolio that complements overseas plants and domestic building and housing sectors, enabling a business structure capable of stable operations even amid increasing economic uncertainties."

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