Hyundai Bags $389 Million Order from Saudi Power Company

Hyundai Engineering & Construction announced on Monday that it secured consecutive bids for the 380-kilovolt transmission line construction project, commissioned by the Saudi Electricity Company, to support solar power generation.

The project entails building transmission lines in the Medina and Jeddah regions, with a total contract value of $389 million. The 380kV transmission network will span 311 km in the Medina region, linking a planned solar power plant in an inland area of western Saudi Arabia to a substation near Medina.

Meanwhile, the Qurayyat 380kV transmission network, to be built in the Jeddah region, will extend 180 km, connecting a solar power plant planned for Qurayyat, a coastal area in western Saudi Arabia, to the existing power grid near Mecca. Both projects are set for completion by November 2027.

The selection of the construction firm for this project was done through a competitive bidding process among invited companies, the Korean Herald reported.

Since entering the Saudi construction market in 1975, Hyundai E&C has completed 40 transmission line projects over the past 50 years and fostered long-standing trust with the Saudi Electricity Company.

Turnkey Project

For this project, Hyundai E&C secured the contract with a turnkey method. The company will oversee the entire process from design and procurement to construction, reaffirming its business capabilities and technological expertise.

In 2016, Saudi Arabia introduced its Vision 2030 initiative to reduce reliance on oil and diversify its economy. As part of this strategy, the country is advancing the localization of its renewable energy industry.

According to Hyundai E&C officials, since integrating power grids for renewable energy is vital to reshaping Saudi Arabia’s energy market, they were committed to completing this project on time and strengthening our position in the sector.

“With our proven track record in international construction, we aim to expand Hyundai E&C’s K-power grid expertise globally and contribute to a stable power supply in the carbon-neutral era,” the report, quoting the company’s officials, added.