Hyundai Electric wins transformer and switchgear contracts in Saudi Arabia
South Korea’s Hyundai Electric & Energy Systems has been awarded two contracts in Saudi Arabia worth a total of $28.6m to supply power transformers and gas insulated switchgears to state utilities firm Saudi Electricity Company (SEC) and oil company Saudi Aramco.
The South Korean firm said the contract with SEC was worth about $18.7m, with the remaining $10m deal from Saudi Aramco.
Hyundai Electric won contracts worth $48.7m since the beginning of 2020 in the kingdom.
Hyundai Electric was spun off from Hyundai Heavy Industries in 2017.
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