According to Yonhap News,

(SEOUL=Yonhap News) Hyundai Engineering & Construction Co., South Korea's No. 2 builder, said Wednesday it has signed a preliminary deal with U.S. conglomerate General Electric Co. (GE) to enhance cooperation in the global energy and infrastructure businesses.

Under the deal, the two companies will join hands in various construction and engineering projects throughout Asia, Europe, and the Middle East, as well as in the Americas, according to the builder's press release.

"The deal was possible thanks to the firm trust built between Hyundai Motor Group and GE as they maintained a cooperative relationship, and this deal will be a foothold for further business opportunities among the affiliates of the two conglomerates," a Hyundai E&C official said.

The construction firm is an affiliate of Hyundai Motor Group, South Korea's No. 2 family-run business group and the world's fifth-largest auto giant.

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