Doha: Hyundai Glovis, the logistics subsidiary of Korea’s Hyundai Motor Group, has won a $100m shipping service contract with a building materials firm in Qatar.
The agreement signed with state-run Qatar Primary Materials calls for the Hyundai Glovis to transport 12m tons of aggregates to the Arab nation from neighboring United Arab Emirates for the next two years.
The aggregates imported by the Qatari government are to be used in the construction of facilities for the 2022 FIFA World Cup (such as the stadium, pictured) to be hosted by the country.
“The latest deal will be a chance for the company to promote its competitiveness in the Middle Eastern logistics industry,” said Kim Kyung-bae, chairman of Hyundai Glovis. “We will strengthen relations with local consignors to win more contracts in the region.” [08/02/15]