Qatar Awards $233Mn Power Deal To South Korea’s Hyosung
South Korean industrial conglomerate Hyosung Corporation announced on 18 December a deal secured by an unlisted affiliate, Hyosung Power and Industrial Systems Group, to construct eight electricity substations in Qatar by the start of 2014. “The contract was signed in November this year, and is hoped to be completed by January 2014,” a company spokesman told MEES. Under the terms of the $233mn deal signed with Qatar General Electricity and Water Corporation (Kahra Maa), the Korean firm will be responsible for building two 66kv and six 220kv transformer substations, as well as carrying out all the engineering and procurement work for the project. The award follows a previous deal under which Hyosung is building three 132kv and two 66kv substations, which are scheduled to be completed by 2012.
Copyright MEES 2011.
