Hyundai wins RI deal

Hyundai wins RI deal

SEOUL (AP): Two subsidiaries of the giant Hyundai group, a major South Korean conglomerate, said yesterday they have won two construction contracts worth US$238 million in Israel and Indonesia.

Hyundai Heavy Industries, the world's largest shipyard, said it was awarded a $88 million contract to build a coal unloading terminal at Ashkelon, a port in southern Israel.

The group's construction arm, Hyundai Engineering and Construction Co., also said it has won a $150 million land reclamation project from PT Manggala Krida Yudha of Indonesia.

Under the contract, Hyundai Engineering is to reclaim 752 hectares (1,860 acres) of land at a coastal area about 12 kilometers (7.5 miles) north of Jakarta, company officials said.

Completion is scheduled for November 1999, they said.