South Korea's Hyundai Engineering & Construction (000720.KS) and Hyundai Engineering have signed a $2.4 billion contract with oil giant Saudi Aramco (2222.SE) to build a gas processing plant, Seoul's presidential office said on Tuesday.
General view of the summit between President of South Korea, Yoon Suk-Yeol and Saudi Arabia's Crown Prince, Mohammed bin Salman in al Yamamah Palace in Riyadh, Saudi Arabia October 22, 2023. Saudi Press Agency/Handout via REUTERSThe deal was signed on Monday in Riyadh at a ceremony to mark 50 years of construction cooperation between the two countries, with South Korean President Yoon Suk Yeol attending as part of his state visit to the kingdom.
Yoon and Saudi Crown Prince Mohammed bin Salman welcomed the agreement in a joint statement after talks, pledging further cooperation in construction and infrastructure, including on Saudi Arabia's NEOM mega-city and Vision 2030 reform plans.
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