Major US Construction Magazine ENR Announces
Overseas Sales of $6.83 Billion, Up 18.6% Year-on-Year
Highest Record Since Joining Hyundai Motor Group
Hyundai Engineering & Construction ranked 11th among global construction companies. This is a two-step rise compared to last year and the highest ranking since becoming part of Hyundai Motor Group.
Hyundai Engineering & Construction announced on the 29th that it ranked 11th in the 2023 International Construction Firms (based on overseas revenue) ranking published by the U.S. construction engineering magazine ENR (Engineering News Record).
ENR ranks global construction companies annually based on their business performance. In particular, the international category is based on overseas revenue excluding domestic sales, making it a useful indicator for assessing status in the global construction market.
Hyundai Engineering & Construction recorded overseas sales of $6.83 billion out of a total revenue of $16.75 billion last year. Its overseas revenue increased by 18.6% compared to the previous year. It is the only domestic construction company to be ranked within the top 10.
By region, Hyundai Engineering & Construction ranked in the top 10 in the Middle East (3rd) and Asia (5th). Notable performance increases were seen in the petrochemical (6th) and power generation (10th) sectors. Mega projects such as the Saudi Marjan gas processing plant, the Southern Philippines railway project, and Panama Metro Line 3 significantly contributed to this progress.
In particular, Hyundai Engineering & Construction secured 16 large-scale projects in Saudi Arabia this year, including the Amiral project, Yanbu~NEOM City power grid expansion project, and NEOM learning tunnel project.
As Hyundai Engineering & Construction’s momentum continues in the overseas construction market, partnerships with global companies are also expanding. It was selected as the exclusive mid- to long-term project partner of Aramco, the world’s largest energy company, securing a monopolistic position. Additionally, it plans to participate in Ukraine’s energy reconstruction market alongside Holtec, a leading U.S. company in next-generation nuclear power projects, continuing global business alliances with leading companies worldwide.
A Hyundai Engineering & Construction official stated, “Operating over 30 overseas branches and offices, along with strengthening trust and ties among top corporate executives, has been the driving force behind increased sales and improved rankings. Through proactive sales diplomacy by One Team Korea, we expect accelerated overseas expansion and growth. We will continue to enhance the status of K-construction companies through world-class technology and successful project execution.”
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