South Korea firm secures major Qatar power deal

20 December 2011: South Korea's Hyosung Corpn’s unlisted affiliate, Hyosung Power & Industrial Systems Performance Group, has signed $233 million (approx Rs.1,228 crore) contract to build eight electricity substations in Qatar. Under the contract, Hyosung Power and Industrial Systems, a leading electrical equipment and industrial machinery provider, will build six 220-kilovolt and two 66-kilovolt electrical transformer substations by the end of 2013.

Hyosung added the affiliate will be responsible not only for the construction but also for engineering and procurement for the Qatar project. In the previous Qatar deal, Hyosung Power and Industrial Systems clinched a 130 billion won order to build three 132-KV and two 66-KV substations in the Middle Eastern country, which are scheduled to be completed next year.

Source: Trade Arabia