Hyundai Engineering & Construction held a two-day gathering in Seoul to formalize partnerships with seven Saudi Arabian equipment suppliers, marking the company’s latest effort to deepen its presence in the kingdom’s construction sector.
The builder signed memorandums of understanding with Hitachi Energy KSA, Flowserve Al-Rushaid, Yokogawa Saudi, Reda Hazard Control, AVK SVM, Petra and another Saudi firm during the “Saudi Strategic Partners Partnership Program” at the Grand Hyatt Hotel on Oct. 20-21. CEO Lee Han-woo attended alongside executives from the Saudi companies.
The MOUs represent non-binding commitments rather than concrete project awards. Hyundai E&C characterized the initiative as extending its domestic “H-Prime Leaders” supplier program to international markets, though the company offered few specifics on how the agreements would translate into actual business.
The builder has secured substantial work in Saudi Arabia recently, including a $725 million power transmission contract in November 2024 and $389 million in overhead transmission projects in February 2025. The company has maintained operations in the kingdom for over four decades.
Saudi Arabia’s infrastructure push under its Vision 2030 economic diversification plan continues to draw Korean construction firms seeking growth beyond their home market. The agreements may help Hyundai E&C navigate local content requirements that increasingly favor suppliers with Saudi operations.
