Hyundai Doosan Infracore has won orders for a total of 75 medium and large excavators from major Saudi Arabian customers.
The company announced that it recently received orders for 25 excavators, including 20 22-ton excavators (DX220LCA) and 5 50-ton excavators (DX480LCA). Hyundai Doosan Infracore also signed a supply contract for 50 22-ton excavators (DX225LCA), beating global competitors in a bid conducted by a consortium of two construction companies in Saudi Arabia.
The construction company that ordered 25 units is a major partner of Saudi Arabia’s state-owned oil company ARAMCO, having had a highly satisfactory experience with Hyundai Doosan Infracore's machines. It uses Hyundai Doosan construction’s equipment in large-scale construction projects in Saudi Arabia. This contract is the second order, following the purchase contract for a total of 35 excavators and wheel loaders in March. With the 1st and 2nd orders added, it has purchased a total of 60 of Hyundai Doosan Infracore’s construction machines.
The supplied excavators are expected to be used for the Neom City under construction in Western Saudi Arabia. Neom City is the world's largest smart city project to be constructed in Saudi Arabia with total project cost of about 500 billion dollars.
In the bidding for 50 excavators, Hyundai Doosan Infracore garnered a high score by proposing equipment performance, price, and service optimized for the customer's requirements. The consortium that purchased the equipment is a major vendor of a Saudi state-owned power company, and it plans to use the equipment for power facility maintenance work.
Earlier in April, Hyundai Doosan Infracore won an order for 102 excavators—equivalent to 23% of the annual market size—in Qatar, demonstrating its active engagement in sales in the Middle East market. The company is focusing its efforts to secure major customers in the Middle East construction machinery market by releasing competitive new products and carrying out Doosan Care, a customized integrated service solution. It has forecast a market share of more than 10% in the region this year.
“As the Middle East market has become very competitive due to the economic recession and global competitors’ entry into the market, you need to be a dominating force to succeed. We plan to use these major deals as the foundation to continue to improve brand value and product reputation that meet customers’ expectations by providing products and service packages,” a Hyundai Doosan Infracore official said. <End>
