Hyundai LIVART said on the 9th that it signed a "seawater treatment facility temporary construction contract" in Iraq's Basra region. Through this, it plans to expand into the business-to-business (B2B) market.
The Iraq Basra seawater treatment facility project is construction to build a seawater treatment plant near the Khor Al-Zubair port, about 500 kilometers southeast of Baghdad, the capital of Iraq. It is a project jointly invested in by French energy corporations TotalEnergies, the Basra Oil Company (BOC) under Iraq's Ministry of Oil, and Qatar's state-owned oil corporation Qatar Energy, and Hyundai Engineering & Construction won the entire construction project in September last year.
Hyundai LIVART plans to build infrastructure including worker accommodations and offices, as well as electrical, fire safety, and communications systems, at the Basra seawater treatment facility construction site through June next year. The temporary construction will proceed at a total scale of 117.8 billion won. This amount is equivalent to 7.61% of Hyundai LIVART's total sales last year (1.5462 trillion won).
A Hyundai LIVART official said, "In general, for large overseas construction projects won by domestic builders, temporary construction is typically handled by local construction firms," adding, "For this temporary construction, our high-quality construction capabilities and price competitiveness were recognized, and we won the project in a competitive bid involving multiple local Middle Eastern construction firms."
Starting with the Marjan (MIP) project temporary construction in Saudi Arabia in 2019, Hyundai LIVART carried out ▲ the Jafurah gas treatment facility temporary construction in 2022 ▲ the Amiral project refinery temporary construction in 2023.
A Hyundai LIVART official said, "Leveraging abundant infrastructure such as experience executing large construction projects at home and abroad and local sales networks, we are building unrivaled competitiveness in operating large construction projects within the domestic furniture and interior industry," adding, "We will also work to secure additional overseas temporary construction orders going forward."