Hyundai Engineering & Construction (Hyundai E&C) has won its first "Chinchero new airport site development construction" in Peru, dominating the infrastructure market for the first time since its foundation, while also winning a series of orders in Saudi Arabia.
The project was ordered by Peru's Ministry of Transportation and Communication, which is worth about 158.2 billion won (about $143.8 million), and was successful in the first order since the opening of the local branch by forming a joint venture with a local construction company HV Constratista (55 percent or about 87.5 billion won for Hyundai E&C).
The construction is an improved package of land in the city of Chinchero, about 15 kilometers northwest of Cusco, to secure air safety and solve noise problems at the existing international airport in Cusco, a gateway to the Inca historic site, Machupicchu.
The project will cost $500 million to build an international airport with a capacity of 6 million people a year with a 4km runway and a terminal of 13 entrances.
Hyundai E&C has also secured a favorable condition to win a $400 million passenger terminal/runway construction package in the future.
Hyundai E&C raked first, beating five leading global competitors, including those in Spain, China, and Portugal, as a result of a comprehensive evaluation of the technology and commercial sectors after the bidding closed on October 30, 2020.
Hyundai E&C also won an order for Saudi Arabia's 380kV substation project. With the winning order, Hyundai has proven itself to be the strongest in the transmission field in Saudi Arabia.
An official of Hyundai E&C said, "The two orders are the first to be awarded since the establishment of the Peruvian branch and an additional order in Saudi Arabia, which is a traditional construction market. We will continue to build trust to lead the global construction market."
