Hyundai E&C’s Saudi Arabia US$145 M order
Hyundai Engineering & Construction Co. secured a US$145 M power transmission line order in Saudi Arabia.
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South Korea, Seoul: Hyundai Engineering & Construction Co. secured a US$145 M power transmission line order in Saudi Arabia.
The US$145 M deal to lay power transmission lines was signed with a Saudi state power company and involves building 207 km of a 525 kV, 605 km transmission line between Saudi Arabia’s city of Neom and the country’s western port of Yanbu.
Hyundai E&C said it will also construct about 450 transmission towers under the turn-key project scheduled for completion in July 2027.
Neom is Saudi Arabia’s US$500 B project to build an automated, sustainable city, operated by robots and powered by solar energy, in the kingdom’s northwest province of Tabuk. Saudi Arabia has been pushing for the Vision 2030 blueprint, which focuses on easing the kingdom’s reliance on oil and fostering other growth modalities.
“The deal comes as the company has been carrying out 16 large-scale construction projects in Saudi Arabia in a stable way,” a Hyundai E&C official said. “Hyundai E&C will build the power transmission line successfully to contribute to Saudi Arabia’s expansion of its power grid.”
Source: Yonhap News Agency
#Hyundai Engineering & Construction Co.#Power Transmission Line#transmission tower