Hyundai Engineering & Construction Co., a leading South Korean industrial plant builder, said Wednesday it has clinched a US$ 128 million deal to build a power substation in Saudi Arabia.
Under the deal with the Saudi Electricity Co., Hyundai will build a new 380 kilovolts substation and refurbish an existing facility near the port city of Jeddah in the western part of the oil-rich Middle East country.
The builder will be responsible for the design, construction and pilot run of the facility.
The order is part of a larger effort by Saudi Arabia to steadily build up its electricity production capability by 2019 with $ 80 billion earmarked for the plan.
Hyundai has secured 138 overseas substation deals totaling $ 6.4 billion so far and is recognized as a global leader in the field.