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[Alpha Biz=(Chicago) Reporter Kim Jisun] HD Hyundai Electric, an affiliate of HD Hyundai's power equipment and energy solutions, is continuing to win orders related to Saudi Neom City.
HD Hyundai Electric announced on November 11 that it has signed a power equipment supply contract with Al Gihaz, a Saudi transmission and substation construction company. The order is 67.8 billion won and the deadline is until February 2025.
The supplied products are all power devices such as ultra-high-pressure transformers, high-pressure short-term reactors, and reactors needed to complete the substation. It will be used for the mountain substation to be built in northern Saudi for the power supply of Neom City.
Saudi Neom City is a large-scale project estimated at a total cost of 700 trillion won. The Mountain Substation where the products are supplied is the second substation Al Jihad builds in Neom City.
This is the largest order for HD Hyundai Electric's Saudi Neom City. I have won several contracts before. Related orders are expected to continue as the Saudi government's investment in building the Neom City power grid is expected to expand in the future.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
