Courtesy of Hyundai Engineering & Construction
SEOUL, January 08 (AJP) - Hyundai Engineering & Construction said on Thursday it secured 25.5 trillion won ($17.6 billion) in new orders last year, up 39 percent from 2024 and the highest annual total in the company’s history.
Hyundai E&C said it was the first South Korean builder to surpass 25 trillion won in annual orders, attributing the performance to a strategic shift beyond traditional construction into energy-transition projects.
At a “CEO Investor Day” in March last year, Hyundai Engineering & Construction set out a vision to become an “energy transition leader” and set a target of at least 25 trillion won in annual orders by 2030 — a goal it reached in less than a year.
Energy-related projects accounted for much of the growth, the company said. Major wins included a basic design contract for four large nuclear reactors with Fermi America, an early works agreement for a new nuclear plant in Finland, a solar power project in Texas and the Sinan Ui offshore wind project.
The company said it expanded its order base by securing low-carbon and energy-transition projects in advanced markets such as the United States and Europe.
The company also said it broadened its value chain beyond power generation into transmission and consumption, citing a Saudi Arabia transmission line project and data center contracts in the Seoul metropolitan area.
Technical capability and long-standing trust also supported orders, the company said, pointing to an Iraq seawater supply facilities project backed by more than four decades of experience in state-led infrastructure projects.
"We plan to build on the momentum this year by focusing on established energy businesses such as nuclear power and renewables, while increasing the share of overseas orders," a Hyundai E&C spokesman said.
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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