Al Yamamah Steel Industries Company has agreed with the South Korean branch of Hyundai Engineering & Construction to supply steel towers for a 380 kV ultra-high voltage transmission line project in Saudi Arabia’s western region.
In a statement to the Saudi Stock Exchange on Tuesday, the company announced that the contract is valued at 174.91 million Saudi riyals ($46.64 million) and has a duration of one year.
The deliveries are expected to begin by September 2025. The financial impact of the deal will be reflected in the fourth quarter of 2025 results, as per reports.
The Humaiji 380kV Transmission Network in western Saudi Arabia will transport electricity from a solar power plant in Humaiji to a substation in the Madina area via a 311km-long transmission line.
A Hyundai E&C representative said, “As connecting power grids to expanding renewable energy sources is key to reshaping the Saudi energy market, we will complete this project on schedule and further solidify our position in the renewable energy-connected power grid sector.