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Hyosung group said yesterday that it has won contracts for building five electrical substations in Qatar worth $110 million.

An electrical substation is a voltage transforming facility.

The contract, issued by the Qatar General Electricity and Water Corp., is for building three 132 kilovolt substations and two 66 kilovolt substations on a turnkey basis as part of Qatar’s electricity grid expansion program, the company said.

Although the company has won turnkey contracts in Eastern European and Asian nations in the past, this is its first major turnkey project in the Middle East the company said.

A turnkey contract, also known as an EPC, or engineering, procurement and construction contract, requires the contractor to carry out all processes from planning, designing, material purchases to development, and is awarded only to firms that have proven “advanced capabilities in all aspects of projects,” the company said.

“With its affluent natural resources and advanced financial system, Qatar’s importance is growing fast,” Hyosung Power and Industrial Systems Performance Group chief Cho Hyun-moon said in a statement.

“The new EPC orders from the Qatar market, which is now undergoing the expansion of their national power transmission system, will be a critical foundation for our expansion to the high-voltage EPC market not only in Qatar, but also in other Middle East and North Africa.”

Aside from the latest contract, Hyosung received orders for 34 high-voltage power transformers including 17 high-voltage power transformers from India, giving the company a 60 percent share of the Indian market for high-voltage power transformers, which is worth $ 1.3 billion, the company said.


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