Hyundai Engineering & Construction Co., a leading South Korean industrial
plant builder, said Wednesday it has clinched a US$128 million deal to build a
power substation in Saudi Arabia.
Under the deal with the Saudi
Electricity Co., Hyundai will build a new 380 kilovolts substation and refurbish
an existing facility near the port city of Jeddah in the western part of the
oil-rich Middle East country.
The builder will be responsible for the
design, construction and pilot run of the facility.
The order is part
of a larger effort by Saudi Arabia to steadily build up its electricity
production capability by 2019 with $80 billion earmarked for the plan.
Hyundai has secured 138 overseas substation deals totaling $6.4 billion so far
and is recognized as a global leader in the field.
The company is also
currently engaged in eight building projects in Saudi Arabia worth $2.5
billion.