Hyundai Eng to exceed foreign order target for '08

SEOUL, April 27 (Reuters) - South Korean builder Hyundai Engineering & Construction Co Ltd (000720.KS: Quote, Profile, Research, Stock Buzz), said on Sunday it would exceed its target of overseas orders in 2008 as it had won more than 40 percent of the goal so far this year.

Hyundai said it expected foreign orders to hit a record high this year as it aimed to win more contracts in oil producing countries and emerging economies.

"We are very confident of exceeding the target, which was set early this year," Hyundai said in a statement.

But the company did not say how much more it expected to win.

The builder targets a combined foreign order of $4.7 billion in 2008, 16.7 percent higher than $4.03 billion last year. It had won a total of $1.95 billion from foreign countries so far this year.

Hyundai is focusing on big orders in the Middle East as major projects related to oil and gas industries are likely to be ordered, it added. (Reporting by Cheon Jong-woo; Editing by Ramthan Hussain)