Hyundai Elevator wins $63m Contract

By John Lee.

South Korea’s Hyundai Elevator Co. has secured a $63-million contract to supply 1,668 elevators for all apartment buildings of the Bismaya New City Project until 2019.

An additional $26 million deal is reported to be likely to be signed within the week to set up elevators in buildings, bringing the total to a little over $89 million.

Bismaya, the biggest housing project in the Middle East, is being built by South Korean company Hanwha.

(Source: Yonhap)