New deal to open doors to high-pressure EPC market in Middle East and North Africa
Power & Industrial Systems PG successfully secured, for its quality and technological power, a new order from the Middle East’s power market which has lately been dominated by European companies. The 130-billion-won deal — an integrative EPC (engineering, procurement and construction) contract for five substations that consist of three 132kV-grade substations and two 66kV-grade ones — was awarded by Qatar’s general power and water corporation Kahramaa for Phase IX of its power network expansion scheme.
EPC is a form of contract arrangement used in the industry wherein a builder carries out the entire realm of design, procurement, and construction. It is a high-added-value method which can only be pulled off by seasoned professional builders with impressive execution competency in all aspects of project implementation. Though the performance group has been securing EPC-based orders from Eastern European and Asian clients, it is its first time to win the bid in the highly-demanding Middle Eastern market.
According to President of Power & Industrial Systems PG, Cho Hyun-moon, “Qatar is a country with enormous resources and an advanced financial system. It is emerging as the region’s new business and trade hub.” “By winning the EPC bid in the Qatari market where the national power network expansion project is underway,” he says “we have secured a bridgehead for infiltrating the high-pressure power EPC market not only in Qatar but other Middle Eastern countries as well as those in North Africa.”
