Hyundai Construction Equipment wins $40 million orders from Russia, Saudi Arabia
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Hyundai Construction Equipment wins $40 million orders from Russia, Saudi Arabia
  • Kevin Lee 기자
  • 승인 2020.12.10 17:22
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New excavator that Hyundai Construction Equipment recently won in Russia / Courtesy of Hyundai Construction Equipment
New excavator that Hyundai Construction Equipment recently won in Russia / Courtesy of Hyundai Construction Equipment

 

Hyundai Construction Equipment has won a series of big orders in emerging markets such as Russia.

Hyundai Construction Equipment, an affiliate of Hyundai Heavy Industries Group, announced on Dec. 9 that it has recently won orders from customers in Russia and Saudi Arabia for 415 units, including 130 excavators, wheel loaders, and backhoe loaders, worth a total of $40 million.

The equipment will be supplied sequentially to Russia's Gazprom, the world's largest gas producer, by the first half of next year. It is more than 40 percent of the equipment Hyundai Construction Equipment sold in Russia last year.

It also won orders for 70 excavators worth $5.8 million from the Saudi Arabia’s client company. The equipment will be put into the construction of a gas pipeline project in Saudi Arabia's western Medina region in the first half of next year.

A spokesman of Hyundai Construction Equipment said, "In emerging markets such as Russia and the Middle East, demand dropped sharply until the second quarter of this year due to the spread of COVID-19, but it has been rebounding in earnest since the third quarter of this year."


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