South Korean firm wins $233m Qatar power deal

South Korea’s Hyosung Corp said on Sunday its unlisted affiliate, Hyosung Power & Industrial Systems Performance Group, has signed a 270bn won ($233m) 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, according to the company.

Article by Links Group on Dec 19th 2011