Hyundai Electric wins $28.6 M transformer deals In Saudi Arabia
Hyundai Electric and Energy Systems Co. has bagged orders to supply power transformers and gas insulated switchgears to Saudi Electricity Co. and Saudi Aramco.
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Saudi Arabia: Hyundai Electric and Energy Systems Co. said it has bagged two orders worth $28.6 M to supply power transformers and gas insulated switchgears to Saudi Electricity Co. and Saudi Arabia’s state oil company Saudi Aramco.
Hyundai Electric, a unit of shipbuilding giant Hyundai Heavy Industries Co., said the state-run utility order came to $69 M, while the rest came from Saudi Aramco.
The latest contracts raised Hyundai Electric’s deals in the oil-rich kingdom to more than $180 M in the January-April period, up more than triple from the same period last year.
Hyundai Electric was spun off from Hyundai Heavy Industries Co. in 2017.
Source: Utilities