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The contract was signed with Hyundai Engineering & Construction
Al-Babtain Power and Telecommunication Company has signed a contract with Hyundai Engineering & Construction (Hyundai E&C) to supply steel towers for a 500kV high-voltage direct current (HVDC) overhead transmission line (OHTL).
The contract, which has a duration of 24 months, is valued at 777 million Saudi riyals ($207 million), the company said in a statement to the Saudi stock exchange on Monday.
The supply of steel towers will start in the third quarter of 2025.
The contract will have a positive impact on the company’s first quarter 2026 financials, the statement said.
Earlier this month, South Koreas Business Korea news portal reported that Hyundai E&C signed a contract with the Saudi Electricity Company (SEC) for the construction of a 369-km section of the the 1,089km Riyadh-Kudmi 500kV High Voltage Direct Current (HVDC) Transmission Line. The contract is valued at $725 million (approximately 1 trillion won), and is scheduled for completion in January 2027. |
