{"id":62451,"date":"2024-06-08T20:52:09","date_gmt":"2024-06-08T20:52:09","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/hyosung-heavy-industries-lands-42-8-billion-krw-contract-to-modernize-mozambiques-power-grid"},"modified":"2024-06-08T21:24:36","modified_gmt":"2024-06-08T21:24:36","slug":"hyosung-heavy-industries-lands-42-8-billion-krw-contract-to-modernize-mozambiques-power-grid","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/hyosung-heavy-industries-lands-42-8-billion-krw-contract-to-modernize-mozambiques-power-grid","title":{"rendered":"Hyosung Heavy Industries lands 42.8 billion KRW contract to modernize Mozambique\u2019s power grid"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Hyosung Heavy Industries has secured a significant contract to supply power equipment and expand substations in Mozambique, marking a major milestone in the company\u2019s efforts to strengthen its presence in the African power market.<\/p>\n

The contract, valued at 42.8 billion KRW, was signed on May 4 at the Intercontinental Seoul COEX Hotel during the Korea-Africa Summit MOU signing ceremony.<\/p>\n

The agreement with Mozambique\u2019s state-owned electricity company, EDM, aims to modernize the country\u2019s power infrastructure by replacing and expanding outdated transformers and substation equipment.<\/p>\n

Hyosung Heavy Industries will supply and replace 14 units of 220kV ultra-high voltage transformers by 2029, as well as improve and increase the capacity of existing substations.<\/p>\n

Hyosung Heavy Industries has been recognized for its technical capabilities in the African market, having completed various projects over the past decade.<\/p>\n

The company first entered the African power market in 2013 with a turnkey project in Mozambique\u2019s Gaza region, which included the construction of a Gas Insulated Switchgear (GIS) substation and the expansion of an Air Insulated Switchgear (AIS) substation.<\/p>\n

Since then, Hyosung has established a subsidiary in South Africa and participated in power equipment supply and substation construction projects in Namibia, Ethiopia, South Africa, and Tanzania. Over the past three years, the company\u2019s order amount in the African region has exceeded 500 billion KRW.<\/p>\n

Woo Tae-hee, CEO of Hyosung Heavy Industries, emphasized the company\u2019s commitment to technological development and new customer acquisition. \u201cHyosung Heavy Industries is expanding its global market dominance, focusing on the U.S. and European markets, while also actively targeting new markets in the Middle East, Africa, and Oceania. With this Mozambique contract, we aim to become a top-class supplier in the African power market,\u201d Woo stated.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Hyosung Heavy Industries has secured a significant contract to supply power equipment and expand substations in Mozambique, marking a major milestone in the company\u2019s efforts to strengthen its presence in the African power market. The contract, valued at 42.8 billion KRW, was signed on May 4 at the Intercontinental Seoul COEX Hotel […]<\/p>\n","protected":false},"author":84,"featured_media":62450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-62451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nHyosung Heavy Industries lands 42.8 billion KRW contract to modernize Mozambique\u2019s power grid - Mozambique<\/title>\n<meta name=\"description\" content=\"Hyosung Heavy Industries has secured a significant contract to supply power equipment and expand substations in Mozambiq ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/hyosung-heavy-industries-lands-42-8-billion-krw-contract-to-modernize-mozambiques-power-grid\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hyosung Heavy Industries lands 42.8 billion KRW contract to modernize Mozambique\u2019s power grid\" \/>\n<meta property=\"og:description\" content=\"Hyosung Heavy Industries has secured a significant contract to supply power equipment and expand substations in Mozambiq ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/hyosung-heavy-industries-lands-42-8-billion-krw-contract-to-modernize-mozambiques-power-grid\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-08T20:52:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-08T21:24:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2024\/06\/sm_1717865519.019064.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/hyosung-heavy-industries-lands-42-8-billion-krw-contract-to-modernize-mozambiques-power-grid#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/hyosung-heavy-industries-lands-42-8-billion-krw-contract-to-modernize-mozambiques-power-grid\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Hyosung Heavy Industries lands 42.8 billion KRW contract to modernize Mozambique\u2019s power grid\",\"datePublished\":\"2024-06-08T20:52:09+00:00\",\"dateModified\":\"2024-06-08T21:24:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/hyosung-heavy-industries-lands-42-8-billion-krw-contract-to-modernize-mozambiques-power-grid\"},\"wordCount\":307,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/hyosung-heavy-industries-lands-42-8-billion-krw-contract-to-modernize-mozambiques-power-grid#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2024\/06\/sm_1717865519.019064.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/hyosung-heavy-industries-lands-42-8-billion-krw-contract-to-modernize-mozambiques-power-grid#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/hyosung-heavy-industries-lands-42-8-billion-krw-contract-to-modernize-mozambiques-power-grid\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/hyosung-heavy-industries-lands-42-8-billion-krw-contract-to-modernize-mozambiques-power-grid\",\"name\":\"Hyosung Heavy Industries lands 42.8 billion KRW contract to modernize Mozambique\u2019s power grid - 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