SK, Namkwang sign US$367 mln deal in UAE

By Nam Kwang-sik
SEOUL, April 8 (Yonhap) -- South Korea's SK Engineering & Construction Co. and
Namkwang Engineering & Construction Co. have signed a 497.3 billion won (US$367
million) deal to build five skyscrapers in Abu Dhabi, the capital of the United
Arab Emirates (UAE), Namkwang Engineering said Wednesday.
Under the deal with Tamouh Investment LLC, a property developer in the UAE, the
two South Korean companies plan to complete construction by December 2011,
Namkwang Engineering said in a regulatory filing.
SK Engineering holds a 65-percent stake in the deal, with Namkwang Engineering
owning the rest.
ksnam@yna.co.kr
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