Hyundai wins SEC contract

Saudi Arabia has awarded a US$102 million contract to South Korean firm Hyundai Engineering and Construction Company (HDEC) to build power transmission lines in its eastern region.

"Hyundai has received two job orders to build 202 km of power transmission lines with a cumulative value of SR 383 million (US$102 million)," said Hyundai vice president Byung Joon Lee.

"The 380 kV transmission line for the state-run Saudi Electricity Company (SEC) will be built within 25 months from now," he added, after an agreement was signed with SEC chief executive officer Ali Saleh Al-Barrak. Lee pointed out that HDEC is currently executing US$1.33 billion worth of projects in Saudi Arabia.

Major ongoing jobs include a substation project, four transmission line projects and a gas processing plant, for which HDEC recently won a contract worth US$770 million.

It will build facilities to process 550 million ft³ of natural gas and 70 000 barrels of liquefied natural gas a day in a field near Riyadh in a project targeted for completion in September 2009.

Earlier, HDEC had successfully completed an electricity transmission line project in Saudi Arabia, and power extension project at Jebel Ali power and desalination station in the UAE, Lee added.