Hyosung Heavy Industries Enters African Ultra-High Voltage Transformer Business

Yokota Takeshi, CEO of Hyosung Heavy Industries, is taking a commemorative photo of the contract with Howlup Namibia Power Corporation Director at Hyosung Group's Mapo headquarters on the 15th.

[Asia Economy Reporter Oh Hyung-gil] Hyosung Heavy Industries PG is entering the ultra-high voltage transformer business on the African continent.

On the 15th, Hyosung Heavy Industries PG announced that it signed a contract for an ultra-high voltage transformer installation project worth 20 billion KRW with the Namibia Power Corporation at Hyosung Group's headquarters in Mapo.

In March, Hyosung Heavy Industries PG secured a contract with the Namibia Power Corporation for the installation and expansion of 10 ultra-high voltage transformers ranging from 132kV to 400kV, with plans to deliver by the second half of 2023.

The total contract value Hyosung Heavy Industries PG has signed with the Namibia Power Corporation this year amounts to approximately 31.5 billion KRW, indicating that efforts to pioneer the African power market are yielding concrete results.

Park Tae-young, Executive in charge of the Global New Business Sales Team at Hyosung Heavy Industries PG, stated, "Recently, African countries have recognized the importance of the power sector and are continuously modernizing their power infrastructure. We have been interested in and dedicated to developing the African power market since before COVID-19, and recently, we have been accelerating our efforts to target additional emerging countries' power markets."

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