Hyundai E&C will take charge of Boryspil International Airport
South Korea’s Hyundai E&C said on July 17 that the contractor had signed an agreement with Boryspil International Airport Corporation to join the European country’s postwar reconstruction project.
Under the contract, the Seoul-headquartered builder will work on expanding the largest Ukraine airport, which is located around 20 miles southeast of Kyiv. Hyundai E&C did not disclose the value of the deal, though.
The Boryspil airport explains more than 60 percent of the country’s passenger traffic and 85 percent of its airborne cargo shipping. But the war between Russia and Ukraine has hindered its operation since early 2022.
Hyundai E&C, an affiliate of automaker Hyundai Motor, said that it would rebuild the airport’s landing strips and a new cargo terminal after the lingering war finishes.
The company, which took part in the airport construction of Korea’s Incheon and Singapore’s Changi, is currently carrying out a feasibility test for the project.
“To support Ukraine’s development, we will proactively collaborate across the board, not just in such transportation infrastructure as airports and railways, but also in energy,” Hyundai E&C CEO Yoon Young-joon said.
This is not the first time for Hyundai E&C to take part in the development plan of Ukraine.
This April, Hyundai E&C and its U.S. partner Holtec International inked a collaboration agreement with Energoatom in Kyiv to establish small modular reactors in Ukraine.
Hyundai’s cross-city rival Samsung C&T minted a memorandum of understanding Friday to build a smart city in Lviv, the largest city in western Ukraine.
Together with Turkish company Onur, Samsung C&T will take part in the smart-city project, which is expected to take almost 20 years.
After the end of the war with Russia, the reconstruction projects in Ukraine are estimated to cost almost $1.6 trillion.
After South Korean President Yoon Suk-yeol visited Ukraine Saturday to meet with Ukraine’s President Volodymyr Zelensky, more Korean firms are expected to take part in the post-war reconstruction projects of the war-ravaged country.