Hyundai Engineering & Construction Establishes Foundation for Entry into Singapore's National Energy Transition Project

On the 8th (local time), at the Ritz-Carlton Hotel in Singapore, a business agreement was signed between Surbana Jurong and the next-generation development and new energy sectors during the Korea-Singapore Business Forum. From the left: Yoon Young-jun, President of Hyundai Construction; Ahn Deok-geun, Minister of Trade, Industry and Energy; Tan See Leng, Second Minister for Trade and Industry of Singapore; Sean Chiao, President of Surbana Jurong. (Photo by Hyundai Construction)

원본보기 아이콘

Hyundai Engineering & Construction is set to collaborate technologically with the largest public works technology company in Singapore. Through this, it aims to establish a foundation for entering Singapore's new energy business sector.

On the 8th, at the 'Korea-Singapore MOU Signing Ceremony' held at The Ritz-Carlton Millenia Singapore, Hyundai Engineering & Construction signed a memorandum of understanding with Surbana Jurong for "joint research and technology exchange in next-generation power projects, renewable energy, and carbon reduction fields."

Surbana Jurong is the largest public technology company providing technical consulting for Singapore’s national projects, including global city, infrastructure, and management services consulting. The signing ceremony was attended by Yoon Young-joon, President of Hyundai Engineering & Construction, and Sean Chiao, President of Surbana Jurong, among others.

Hyundai Engineering & Construction and Surbana Jurong will cooperate to build infrastructure in next-generation power projects, renewable energy, carbon capture and storage, and construction automation and robotics. Hyundai Engineering & Construction expects to enhance competitiveness in Singapore’s national projects by jointly conducting research tasks commissioned by the Singapore government.

Hyundai Engineering & Construction also signed a memorandum of understanding with Hyundai Motor Company and Nanyang Technological University to promote joint technology research and demonstration projects in new energy fields such as resource-circulating hydrogen and next-generation power projects. Since 2016, Hyundai Engineering & Construction has established a joint research center with Nanyang Technological University and has been conducting R&D on pollution dredged soil recycling, desalination, and floating offshore platforms.

Singapore is focusing on securing low-carbon energy and establishing a hydrogen energy base in line with its goal to achieve net-zero emissions by 2050. Through this memorandum of understanding, Hyundai Engineering & Construction plans to establish a cooperative system capable of responding to business diversification related to Singapore’s energy transition and to discover new business opportunities.

Since entering the Singapore construction market in 1981, Hyundai Engineering & Construction has actively expanded the national land by about 7% of Singapore’s total area through infrastructure projects.

A Hyundai Engineering & Construction official stated, "Through this business partnership, we will do our best to accelerate Singapore’s energy transition based on a strengthened government and group-level cooperation network and the trust we have accumulated from the Singapore government and clients."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.