Sino-S. Korean consortium secures $420 mln railway deal in UAE
SEOUL, AJU - A consortium of South Korean and Chinese companies secured a $420 million order to build a 139-kilometer-long railway in the United Arab Emirates. SK E&C owns 42.5 percent of the consortium with China State Construction Engineering Corp.
SK E&C said Wednesday that the consortium will build a part of Etihad Rail's a 605-kilometer railway project being pushed by Etihad Rail, which builds and operates UAE's railway network. Construction will be completed in 2023.
"We will do our best to earn additional orders based on our experience in construction and technological competitiveness in the Middle East," SK E&C CEO Ahn Jae-hyun said in a statement.