Kuwait Picks Hyundai Heavy Team For $1.4B Plant Project

Law360, New York (February 29, 2012, 8:14 PM EST) -- A consortium of Hyundai Heavy Industries Co. Ltd., International Power PLC’s Latin American arm and the French company Sidem was reportedly named the preferred bidder Tuesday for a $1.4 billion contract to build power and desalination plants in Kuwait.

Hyundai Heavy, the world's largest shipbuilder by sales, will build the $1 billion combined-cycle power plant for Kuwait’s state-owned Partnerships Technical Bureau. Sidem, subcontracting with Hyundai Heavy, will build the $400 million desalination plant, Dow Jones reported, citing a person familiar with the deal.

Hyundai Heavy and...
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