Hyundai Electric inks $24 M transformers deal

Saudi Arabia: South Korea’s Hyundai Electric & Energy Systems Co., the electric systems unit of Hyundai Heavy Industries Group, announced Tuesday that it has won an order worth $23.9 M (28 B won) to supply power transformers for the Hawiyah Gas Plant Expansion Project in Saudi Arabia.

Under the agreement with Saudi Arabia’s state-run oil giant Saudi Aramco, Hyundai Electric will provide 24 units of 230 kV power transformers to the project aimed at expanding gas processing facilities in Hawiyah located in the south-east of the Arabian Peninsula by July 2021.

Hyundai Electric said it is also working hard to win another order from Aramco to provide power equipment for the Marjan Project, the largest project of the Saudi company that aims to build oil and gas plants at the Marjan field.

Source: Pulse