SEOUL, KOREA - Hyundai Engineering & Construction said on May 7 that it would participate in a project to improve sewer systems in Colombia, following a similar project in Bangladesh last year. The consortium consisting of Hyundai E&C, Hyundai Engineering, and Dongmyeong Engineering Consultants & Architecture will engage in more than ten water projects in the upstream area of the Bogota River and Cali, Colombia's third largest city.
Especially given the Colombian government plans to invest a total of US$5.2 billion in sewer projects by 2014 to improve the quality of life of 7.3-million residents in the affected regions, the country is one of the most promising water markets. According to an annual research report Global Water Market, Colombia's water market size is estimated at $2.55 billion.
Baek Kyu-seok, senior manager responsible for environmental policy making with the Ministry of Environment and head of the consortium, said, "Through the Colombian project, we will build a bridgehead to enter the $34-billion Latin American water market. The government will keep supporting domestic environmental firms in their efforts to move into the Latin American market."
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