State spending on strategic industries to surge 43% next year
SEOUL, Dec. 31 (Yonhap) — Hyundai Electric & Energy Systems Co., an affiliate of Hyundai Heavy Industries Group, said Friday it has exported ultrahigh-voltage power transformers to Oman’s state utility provider in a deal valued at US$8.5 million.
The supply deal with the Oman Electricity Transmission Co., included the sales of three 400-kilovolt/500-megavolt ampere power transformers, which will be installed in a new substation north of Oman, Hyundai Electric said.
With the deal, the company’s power transformer sales in the Middle Eastern region are estimated to have reached $172 million this year, it said.
In the second half of this year alone, Hyundai Electric has won 20 such supply deals, including the 35 billion-won ($29.4 million) deal clinched with Saudi Arabia in September.