Excavators to be supplied by Hyundai Construction Equipment for the Qatar sewage treatment facility project in the first half of this year [Asia Economy Reporter Choi Dae-yeol] Hyundai Construction Equipment recently announced on the 7th that it secured orders for 104 construction machines, including 56 excavators in Qatar and 40 excavators and backhoe loaders in Colombia.
According to the company, including this contract, it has secured 2,698 units in emerging markets over the past three months. Compared to the same period a year ago, the order volume increased by 128%. Starting with an Indonesian coal mine in December last year, the company has steadily signed equipment contracts at gold mines in Sudan, Africa, and iron ore mines in Brazil.
In the Middle East, Southeast Asia, and Latin America, mining development has become active recently due to rising prices of raw materials such as crude oil and iron ore. Additionally, as oil prices rise, social overhead capital (SOC) investments by oil-producing countries in the Middle East have resumed, increasing demand for construction machinery such as excavators, the company said.
Major raw materials like iron ore and copper have risen about 60-90% compared to a year ago, and international oil prices have surpassed $60 per barrel (WTI). The company stated, "We will increase sales by developing locally customized equipment suitable for emerging markets and strengthening customer-oriented services."
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