This achievement is seen as a lynchpin moment for HD Hyundai Electric Co., offering a gateway to potential future collaborations in electricity generation and distribution infrastructure projects within Saudi Arabia.

Seoul-based HD Hyundai Electric Co., a prominent player in the electrical equipment and energy solutions sector under South Korea's renowned shipbuilding conglomerate, HD Hyundai Co., recently announced its successful bid for a $51 million contract with Al Gihaz Contracting Company Saudi Arabia. This lucrative deal entails the supply of essential substation equipment for the development of Neom, Saudi Arabia's cutting-edge smart and eco-friendly city.

According to the company’s recent press release, HD Hyundai Electric Co. will deliver a comprehensive package of critical substation equipment, including transformers, high-voltage circuit breakers, and reactors, for the Neom Mountain project. The scheduled completion date for this endeavor is set for February 2025, following thorough negotiations and agreement finalization.

This achievement is seen as a lynchpin moment for HD Hyundai Electric Co., offering a gateway to potential future collaborations in electricity generation and distribution infrastructure projects within Saudi Arabia. The nation, traditionally reliant on oil revenues, is now embracing visionary city and infrastructure initiatives centered around sustainable and smart technologies.

Neom, nestled in the desert expanse of Saudi Arabia's northern Tabuk Province, represents one such forward-thinking development. This smart city is committed to running entirely on renewable energy sources, including solar power and green hydrogen, supported by advanced technologies such as 5G networks, the Internet of Things, cloud computing, and robotics. The Neom Mountain substation, once completed, will become an integral component of this green and intelligent metropolis, stated Hyundai in its press release.

Source: HD Hyundai Electric Co.