▶ To provide large equipment to Argentina’s lithium mine excavation site and The Line in the NEOM project
▶ Shows that product competitiveness has been globally in mid-to-large construction equipment market
South Korea, September 4, 2023 – HD Hyundai Construction Equipment has proved its competitiveness in the mid-to-large construction equipment market by winning orders from global construction and mining sites.
HD Hyundai Construction Equipment announced on Sep. 3, that it won deals for Argentina’s lithium mine excavation project and Saudi Arabia’s NEOM project. A total of seventy three equipment including excavators, wheel loaders, and ADTs will be provided to these sites.
For the Argentina deal, a total of twenty three products including six 50T excavators, three 300hp wheel loaders, four 150hp motor graders, and ten 41T load weight ADTs will be provided by September.
These products will be used in Salta, Argentina to create mines, process lithium, and discard salt created in the process.
Different kinds of construction equipment are needed when building new lithium mines above 4,000m and higher altitudes, and HD Hyundai Construction Equipment ability to provide large equipment volumes along with its global network was what made it win the deal.
Prior to this, HD Hyundai Construction Equipment also successfully delivered fifty machines including twelve 40T excavators and five large bucket (5.6㎥) wheel loaders to The Line in Saudi Arabia’s NEOM project this August.
This was the first in the industry to provide eco-friendly equipment to Saudi Arabia that satisfies EU Stage V emission standards. HD Hyundai Construction Equipment hopes to receive more orders as it has been able to provide equipment equipped with a short distance smart warning system, additional safety features, and driver-centric designs fit for different sites.
With its product competitiveness, the company plans to increase profit by expanding target markets and securing key customers that need large sized equipment to excavate raw material/minerals.
Demand is expected to increase for the time being in target markets as demand for new raw materials grow with large construction projects and secondary cell development. HD Hyundai Construction Equipment recorded a 15% increase in growth rate for Q2 compared to the previous year in regions such as Latin America and other resource-producing countries, while reaching a 97% increase in the Middle East.
A representative of HD Hyundai XiteSolution, the intermediary holding company of HD Hyundai’s construction equipment business, mentioned, "It is encouraging to hear that we won large orders from Latin America’s mining industry and Saudi Arabia’s large scale construction project, as they both have great growth potential", and added, "Our large sized equipment are strong enough to compete in these markets and to further expand targets, we will continue to provide customized products and better services that will satisfy their needs."
■ Photo Description (without background): HD Hyundai Construction Equipment’s 50T excavator (HX500LT3) to be provided to the lithium mine in Argentina
■ Photo Description (with background): HD Hyundai Construction Equipment’s 40T excavator (HX400A) delivered to Saudi Arabia’s NEOM project