Al Yamamah Steel wins major supply contract
01 February 2022
Saudi-based Al Yamamah Steel Industries Company said it has won two orders worth SR292 million ($78 million) from Hyundai Engineering and Construction Company for the supply of steel towers for the construction of electricity transmission lines for a key project on the Egypt border.
The first is for steel towers for the construction of a 380-kV line between the new Afif BSP and Mahd BSP, while the second is for the implementation of a 500 kV of electricity interconnection project between Saudi Arabia and Egypt – Phase Three – western region, said Al Yamamah Steel Industries in its filing to the Saudi bourse Tadawul.
The supply contract is for a one-year period.
In December, Al Yamamah Steel had clinched a key contract worth SR179 million from Arabian Electrical Transmission Line Construction Company for the supply of steel towers for constructing a 380-kV link between Buhirah Station and Tabarjal Station.
As per the deal, the Saudi group will start supplying the materials for a one-year period effective May, it added.
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