Hyundai Heavy Industries and National Grid SA of Saudi Arabia Sign MOU for Comprehensive Cooperation for Heavy Electric Equipment Business.

Hyundai Heavy Industries (HHI), the world’s largest shipbuilder and a leading electro electric equipment manufacturer announced today it signed an MOU with National Grid SA for a comprehensive cooperation for heavy electro electric equipment business.

Under the MOU, HHI and National Grid SA will join forces to work for the standardization of design and engineering, technology exchanges and new product development. The signing ceremony was attended by Mr. Joo Young-keol, COO of HHI’s Electro Electric Systems Division, Mr. Mohammed Al Raffa, Vice President of Engineering of National Grid SA, and other guests.

HHI has exported the most volume of transformers and gas insulated switchgears to National Grid SA among Korean companies to date with 400 billion won worth order in 2015 alone.

An HHI official said, “We see the MOU will lay a solid foundation for us to establish strong cooperation with National Grid SA. On the back of the MOU, we will take further steps to expand our market shares in the Middle East Market.”