Hyundai Engineering & Construction Co., South Korea's third-largest builder, said Wednesday it has clinched a $377 million deal to expand a port in Colombo, the capital of Sri Lanka.
Under the deal with Sri Lanka Ports Authority, Hyundai Engineering & Construction plans to complete the expansion of the port 48 months after the builder launched it, the Korean company said in a regulatory filing.
Hyundai Engineering & Construction, however, gave no further details on the deal.
If completed, the port will triple its handling capacity to 12 million 20-foot containers a year from the current 4 million units, Hyundai Engineering & Construction said.
Under the deal with Sri Lanka Ports Authority, Hyundai Engineering & Construction plans to complete the expansion of the port 48 months after the builder launched it, the Korean company said in a regulatory filing.
Hyundai Engineering & Construction, however, gave no further details on the deal.
If completed, the port will triple its handling capacity to 12 million 20-foot containers a year from the current 4 million units, Hyundai Engineering & Construction said.