Hyundai shipyard wins $700mn order from Norway

Hyundai shipyard wins $700mn order from Norway

SEOUL: South Korean shipbuilding giant Hyundai Heavy Industries has won a $700 million order from a Norwegian company to build the world’s largest semi-submersible oil rig, it said Monday.

Hyundai said the rig would be delivered to Norway’s Fred Olsen Energy in March 2015 and would be used in the North Sea. The world’s largest shipbuilder by sales said the contract includes an option to order an additional rig. -BusinessRecorder