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The one-year contract is valued at $47mln Al Yamamah Steel Industries Company has signed a contract with South Korea’s Hyundai Engineering & Construction Company branch to supply steel towers for a 380 kV ultra-high voltage transmission line project in Saudi Arabia’s western region. The contract has a duration of one year and is valued at 174.91 million Saudi riyals ($46.64 million), the company said in a statement to the Saudi Stock Exchange on Tuesday. The deliveries will begin in September 2025. The financial impact of the deal will be reflected in the fourth quarter of 2025 results, the statement said. Earlier this month, Al Yamamah Steel signed a SAR 112.9 million contract with a branch of National Power Construction Corp. (NPCC) to supply steel towers for a 380 KV ultra-high voltage line in the western region. Al-Babtain Power and Telecommunication Company also secured a contract from Larsen & Toubro Saudi Arabia this month to supply overhead transmission line steel towers valued at SAR390 million. |
