Electrical Industries’ unit inks SAR 281M contract with Hyundai

Electrical Industries Co.’s subsidiary, Saudi Power Transformers Co., signed on Aug. 14 a contract with Hyundai Engineering Co. Ltd. to supply transformers, for SAR 281.13 million (excluding VAT), according to a statement to Tadawul.

The 15-month contract entails a purchase order for design, manufacture and supply of power transformers for Jafurah gas plant expansion project.

The contract is expected to have a positive financial impact on the company results for 2025, the statement said, adding that no related parties are included in the contract.