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Korea Republic of,Kuwait : KUWAIT inks $2.6bn bridge deal with HYUNDAI ENGINEERING
Publish Date : 20-Nov-2012
Kuwait\'s Combined Group Contracting Company has announced a deal with South Korea\'s Hyundai Engineering & Construction Company.
The contract is to design, build and maintain a major bridge in the Gulf state. Combined Group Contracting will have under its ownership a 21.5% interest in the Sheikh Jaber al-Ahmad al-Sabah project.
The value of the contract was not revealed.
The bridge project which would take around five years to complete will be built over Kuwait Bay and connect Shuwaikh port with Subiyah, an area in the northern oil-producing part of the OPEC state.
This development will help in reducing congestion around the port.
