HD Hyundai Infracore to supply construction equipment to Saudi Arabia

South Korea's HD Hyundai Infracore Co. announced on Tuesday that it signed a contract to supply 100 excavators and wheel loaders to Saudi Arabia's leading construction firms, Saudi Pan Kingdom Company (SAPAC) and Nesma & Partners Contracting.

Under this contract, HD Hyundai Infracore will sequentially supply 100 units by the end of this month, including 20 large 50-ton excavators, 40 medium-sized 20-ton excavators, and 40 large wheel loaders.

These machines will be used for the Riyadh Ring Road project. This project plans to build an outer ring road around the Saudi capital, Riyadh, by 2027.

Amid a slowdown in demand for construction equipment due to increasing global economic uncertainties, HD Hyundai Infracore has been targeting key customers in emerging markets since the beginning of this year.

The company has strengthened its sales force and regional expertise in Saudi Arabia, which is expanding its transportation infrastructure for the Riyadh Expo 2030 following the construction of the futuristic new city project Neom City.

Write to Hyung-Kyu Kim at khk@hankyung.com