South Korean Majors Making Waves

The United Arab Emirates has awarded South Korea's Hyundai Engineering and Construction Co. an $83 million deal to build electric power supply lines across the nation.

The power lines, to be completed by the end of 2005 on a turn-key basis, will link electricity networks of major regions there, the South Korean civil engineering firm said.

Hyundai said it hopes the deal will put it in a better position to secure reconstruction projects in post-war Iraq.

The company aims to secure overseas orders worth 1.2 billion dollars this
year, up 44 percent from 2003, focusing projects such as oil- and gas-related facilities, ports and power plants.