Hyosung wins $100 million transformer order in AlgeriaThe Hyosung Corporation, a major chemical and machinery maker in Korea, said yesterday it won a $100 million order to build an electricity transformer in Algeria.
Under the deal with Algeria’s state-run utility distributor Sonelgaz, Hyosung will construct a 400-kilovolt substation in the Marsat region in northwestern Algeria by 2016. The contract is the largest electricity transformer construction deal for Hyosung, which secured an electricity transformer order in Algeria four years ago.
For this contract, Hyosung formed a consortium with Samsung C&T. The company hopes to secure more deals in Algeria, which is the No. 1 African nation that exports natural gas.