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Hyundai E&C bags US$2.8 bln deal from Panama

All News 10:17 February 05, 2020

SEOUL, Feb. 5 (Yonhap) -- Hyundai Engineering & Construction Co. said Wednesday that its consortium has clinched a US$2.81 billion deal to build a metro line in Panama.

Under the deal with Metro de Panama S.A., the consortium will build a 25-kilometer-long metro line with 14 stations that will run from Panama City to the capital's west. The construction is expected to take 54 months, according to the South Korean builder.

It is Hyundai E&C's first deal in the Central American country.

Hyundai E&C said it has a 51-percent stake in the project while POSCO Engineering & Construction and Hyundai Engineering Co. have 29-percent and 20-percent stakes in the project, respectively.

An artist's rendition of a metro station in Panama that will be built by a South Korean consortium led by Hyundai Engineering & Construction Co. in this image provided by Hyundai E&C on Feb. 5, 2020. (Yonhap) (PHOTO NOT FOR SALE)

entropy@yna.co.kr
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