South Korea secures USD 30.bn deals in Middle East in last six months.

By bne IntelliNews July 23, 2010
The value of South Korea's deals in the Middle East reached USD 30.8bn so far in 2010, UAE's news agency WAM said quoting government figures. The high demand on behalf of the Korean companies was mainly due to the industry rebound in the region after recovery from the global financial crisis, which allowed for large investments in GCC countries in particular. Some USD 18.6bn of the sum was awarded in December to build four nuclear plants in the UAE by 2020. Other projects for Korean companies include the Dubai Metro. Two days ago a South Korean consortium including KR Plant Service and Engineering Company, secured an USD 1bn order from Saudi Arabia to lay optical cables underground.

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