SEOUL: Hyundai Engineering and Construction Co. (Hyundai E&C), South Korea's second-largest builder, said Wednesday that it has secured a US$248 million substation building and refurbishment contract in Saudi Arabia.
The order placed by Saudi Electricity Co. (SEC) calls for building a new 380-kilovolt combined substation at the Jubail industrial complex in the oil-rich Middle East country.
In addition, the builder will be tasked with refurbishing nearby substations, according to Yonhap news agency.
"The overall project is expected to take 27 months, with the completion date set for October 2016," the company said in a press release.
It said the new substation will be the largest such facility in the kingdom.
Since entering Saudi Arabia's power station and substation building market in 1977, Hyundai E&C has secured some 70 orders.
At present, it is engaged in 13 projects in the country, including the building of power lines, power substations, an alumina refinery and an indoor sports arena worth some $3 billion.(QNA)