Italy’s Webuild has signed a Memorandum of Understanding (MoU) with South Korea’s Hyundai Engineering and Construction (Hyundai E&C) to strengthen an ongoing collaboration in port, airport and defence infrastructure markets as well as the green energy sector.

The MoU signing ceremony, held at Webuild's headquarters in Rome, Italy, was attended by key executives from both companies, including Hyundai E&C CEO Lee Han-Woo and Webuild CEO Pietro Salini.

With this MoU as a springboard, Hyundai E&C and Webuild will jointly pursue energy projects, including pumped storage hydroelectricity, alongside critical public infrastructure such as high-speed railways and airports.

This collaborative footprint will span advanced markets in Europe and North America, as well as the broader Asia-Pacific and Middle East regions. Building on mutual trust, the two companies intend to establish exclusive cooperative frameworks for specific target markets.

The team will form dedicated joint ventures tailored to individual projects, able to operate under PPP, EPC or Design & Build models.

In addition, they plan to continually forge new collaboration models by exploring the establishment of joint ventures tailored to the unique characteristics of individual projects and by expanding both the fields of cooperation and the scope of targeted businesses.

The companies say the partnership will help Hyundai E&C expand its international reach and Webuild to better target niche sectors with high projected growth.