(image: Hyundai Engineering & Construction Co.)
SEOUL, Aug. 1 (Korea Bizwire) — Hyundai Engineering & Construction Co., South Korea’s No. 2 builder, said Tuesday it has bagged a US$145 million order to lay power transmission lines in Saudi Arabia.
The deal, signed with a Saudi state power company, calls for building 207 kilometers of a 525-kilovolt, 605-km transmission line between Saudi Arabia’s new 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 billion 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 engines.
“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.”
Hyundai E&C has completed 33 power transmission line projects in the Middle Eastern country since 1976, when it kicked off its first project there.
(Yonhap)
