Hyundai E&C Signs MOU to Strengthen Cooperation with Saudi Plant Partners

Hyundai Engineering & Construction announced on the 20th that it has signed a memorandum of understanding (MOU) to strengthen cooperation with seven partner companies involved in plant projects in Saudi Arabia.

The MOU partners are key equipment suppliers: Hitachi Energy KSA (high-voltage gas-insulated switchgear), Flowserve Al-Rushaid (pump facilities), Yokogawa Saudi (analyzers), Reda Hazard Control (fire protection, safety, and security solutions), AVK SVM (industrial valves), Petra (HVAC systems), and Saudi Diesel (diesel generators). Hyundai Engineering & Construction is a partner in the construction EPC sector for the Saudi government's core infrastructure projects under 'Vision 2030' and Aramco's long-term growth project, the NAMAT program. The company determined that a localization strategy is necessary to secure contracts for large-scale petrochemical plant projects to be ordered locally in the future, and thus selected major partner companies accordingly.

Hyundai Engineering & Construction stated, "This is our first attempt to expand the excellent partner company system to overseas enterprises and establish a global co-prosperity framework," adding, "We will strengthen partnerships with leading companies that have outstanding track records and capabilities suited to local conditions."

Hanwoo Lee, CEO of Hyundai Engineering & Construction (fourth from left), and the CEOs of seven strategic partner companies from Saudi Arabia are taking a commemorative photo after the signing ceremony at the Grand Hyatt Hotel in Seoul on the 20th. Provided by Hyundai Engineering & Construction

This content was produced with the assistance of AI translation services.