Consortium led by Hyundai HDEC wins US$522 Million order from Sri Lanka

A consortium led by Hyundai Engineering and Construction (HDEC), South Korea's largest builder, has won a US$522 million Dollars order to build an integrated resort in Sri Lanka

Hyundai Engineering and Construction (HDEC) and  Keangnam Enterprises, a mid-sized builder -- are set to complete the resort in Colombo by 2017 under a deal with a subsidiary of Sri Lanka's top conglomerate, John Keells Holdings PLC.

Hyundai E&C said it holds a 65 percent stake in the project, or $339 million, while Keangnam Enterprises has a 25 percent one, or $130 million won, and Sri Lanka's Nawaloka holds the rest.

Shares of HDEC were trading at 61,700 won ($57) on the Seoul bourse as of 10:41 a.m., up 1.48 percent from the previous session's close.

Shares of Keangnam Enterprises, meanwhile, were trading at 5,230 won on the Seoul bourse as of 10:41 a.m., unchanged from the previous session's close.