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[Alpha Biz=(Chicago) Reporter Paul Lee] HD Hyundai Electric recently announced that it has signed a contract to supply 94.3 billion won worth of power devices with a Saudi Arabian EPC (Design, Procurement and Construction) company. It is the largest amount of money received from Saudi Arabia.
The power devices ordered this time are transformers, high-voltage insulation devices, reactors, etc. and will be supplied to substations that will be built in the new city near the site of Dyriya by December next year.
The Saudi government is spending a total of $20 billion on a large-scale city construction project to develop high-end tourist facilities around the Diriya site, the home of the Saudi dynasty. The project, also known as the "Diriyah Gate," is also called the "Second Neom City."
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
