Korea Hyundai wins $38m in overseas power cable orders

South Korea’s Hyundai Engineering and Construction said on Thursday it had won $38m in orders from Kuwait and Sri Lanka to undertake power cable projects.

The Ceylon Electricity Board of Sri Lanka awarded a $23m order to Hyundai to build 308 km of power transmission lines across the nation, which should be completed by September 2003 on a turnkey basis, Hyundai said in a statement.

Separately, Hyundai won a $15m order from the Kuwait Ministry of Electricity and Water to build 33 km of power lines. The project is scheduled to be completed by August 2003 on a turnkey basis, the statement said.

Hyundai said it has won $500m in overseas orders this year and targets $1.3bn by the end of this year.