Second Middle East
Boom for Hyundai

Holding the first rank in Construction Capability Assessment for 24 years. This is not only about the quantity, but also quality. Including the Korea's first nuclear power plant, Hyundai has built 12 of 18 units. And it also had constructed Gyeoungbu Expressway, Soyanggang Dam, Namhae Great Bridge, Jubail Industrial Harbor in Saudi Arabia, and Sabia Power Plant in Kuwait. In its 58 years of history, Hyundai has pioneered Korea? industrial development by taking the lead in constructing infrastructure and other staple industries.
Recently, Hyundai is enjoying its second Middle East construction boom. It has amazed the world by completing the world biggest gas plant construction within the shortest time frame. After finishing second and third stages of a gas production plant of South Pars, Iran in 2003, Hyundai has completed its fifth and sixth stages also this year. The amount of the construction cost was $1.6 billion.
It is said that last June, before the ceremony of the completion of the fourth and fifth stages of that plant,
the Ministry of Oil of Iran told Lee Ji Song, the president of Hyundai Engineering & Construction that "Please don't leave South Pars."As this story shows us, not only in the Iran government, but in the private sector the company name "Hyundai"is widely and highly recognized by the Iranian people. And thanks to this popularity, Hyundai is expecting to be able to get additional orders for South Pars gas plant construction planned to be developed until it reaches to 25th stage. The cost of this project reaches tens of billion dollars and world's top companies are keen to acquire this order and fiercely lobbying for it. In this severe competition, Hyundai is holding a dominant position.
Hyundai has set a $2 billion goal for taking orders from overseas countries this year. It also has established its Jordan branch in Amman, which is the 6th branch in the Middle East, in an effort to reinforce its operation in this region. nw

president Lee Ji-song