Share

Hyundai Electric wins heavy transformer deals in Saudi Arabia

The two orders worth $28.6mn are for supplying power transformers and gas insulated switchgears to Saudi Electricity Co

Share
Hyundai Electric, Transformer

Hyundai Electric and Energy Systems Co. said it has bagged two orders worth $28.6mn 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 $69mn, while the rest came from Saudi Aramco.

The latest contracts raised Hyundai Electric's deals in the oil-rich kingdom to more than $180mn 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.

Newsletter

Most Popular