Hyundai-Citraland deal

Thu, 06 Mar 1997 | Source: UPI

SEOUL (UPI): South Korea's Hyundai Construction Co. Ltd. has won a US$30-million contract to build the foundation for an office and hotel complex in Indonesia, a spokesman said yesterday.

Indonesian client Citraland Adigraha Co. is building a 900- room hotel, a six-story shopping mall and an eight-story office building, spokesman Shin Jae-chul said.

The South Korean company plans to have the base built for the complex by November, the spokesman said.

Bidding is still open for the main building construction, Shin said.

Hyundai Construction is a subsidiary of Hyundai Group, South Korea's second largest conglomerate in net assets.

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