Hyundai Engineering & Construction Company, the second-largest builder in South Korea, has secured a lucrative contract worth $145 million to install power transmission lines in Saudi Arabia.
The agreement, signed with a Saudi state power company, entails the construction of a 207-kilometer section of a 525-kilovolt, 605-kilometer transmission line connecting the new city of Neom to Yanbu, the country’s western port.
The comprehensive turn-key project, scheduled for completion in July 2027, will also involve the construction of approximately 450 transmission towers.
Neom, a groundbreaking initiative, is a $500 billion project aimed at creating an automated and sustainable city, managed by robots and powered by solar energy, in Saudi Arabia’s northwest Tabuk province. This ambitious endeavor is part of Saudi Arabia’s Vision 2030 blueprint, which seeks to reduce reliance on oil and foster alternative sources of growth.
Hyundai E&C expressed confidence in successfully executing the power transmission line project, citing its ongoing management of 16 major construction projects in Saudi Arabia.
The company has a strong track record in the region, having completed 33 power transmission line projects since embarking on its first venture in the Middle Eastern country in 1976.
