South Korean company Hyosung Heavy Industries has secured a significant contract to supply power equipment and expand electricity substations in Mozambique. The document, valued at 31.1 million dollars (1.9 billion meticals) was signed on Tuesday 4 June in Seoul on the sidelines of the Korea-Africa summit.
‘The agreement signed with the state company Electricidade de Moçambique (EDM) aims to modernise the country’s energy infrastructure by replacing and expanding obsolete transformers and substation equipment,’ said a Business Korea publication.
According to the website, Hyosung Heavy Industries will supply and replace 14 units of 220 kV ultra-high voltage transformers by 2029, as well as improving and increasing the capacity of existing substations, noting that the South Korean company has been ‘recognised for its technical capabilities in the African market, having completed several projects over the last decade’.
‘The company first entered the African energy market in 2013 with a key project in Gaza province in southern Mozambique, which included the construction of a Gas Insulated Switchgear (GIS) substation and the expansion of an Air Insulated Switchgear (AIS) substation,’ said Woo Tae-hee, CEO of Hyosung Heavy Industries.
According to the information shared, the organisation has a subsidiary in South Africa and has already participated in the supply of power equipment and substation construction projects in Namibia, Ethiopia, South Africa and Tanzania. ‘In the last three years, the value of the company’s orders in the African region has exceeded 363.3 million dollars.
‘Hyosung Heavy Industries is expanding its dominance in the global market, focussing on the US and European markets, while actively aiming to explore new markets in the Middle East, Africa and Oceania. With this contract with Mozambique, we aim to become a first-class supplier in the African energy market,’ concluded Woo Tae-hee.
