HD Hyundai Infracore Secures Major Excavator Order in Ethiopia

HD Hyundai Infracore has entered a major contract to supply 100 excavators in Ethiopia, enhancing its market presence in Africa. The demand arises from Ethiopia’s mineral industry growth and ambitious infrastructure projects, reflecting a broader trend of increasing demand for construction machinery across the continent.

HD Hyundai Infracore has secured a substantial order for 100 large excavators in Ethiopia, marking a critical milestone in its African expansion strategy. Announced on March 25, the contract entails supplying 36-ton crawler-type excavators to two mining companies, with delivery completion slated for June 2023. This move aligns with Ethiopia’s focus on enhancing its mineral sector, particularly in cobalt and lithium extraction.

Ethiopia’s proactive development includes ambitious infrastructure projects, such as the construction of Africa’s largest airport near Addis Ababa, which is projected to host 110 million passengers annually. These endeavors are fueling the demand for construction machinery, particularly excavators, like those being supplied by HD Hyundai Infracore.

In the previous year, HD Hyundai Infracore sold 212 units of the same excavator model in Ethiopia, garnering a dominant 57% market share as the region’s leading supplier. This achievement mirrors a wider trend in Africa, where sales of excavators and medium-to-large wheel loaders surged by 34.8%, rising from 13,500 units to 18,200 units in the last year.

An official of the company noted, “Ethiopia is a key market, accounting for more than one-third of sales in the African market.” Consequently, HD Hyundai Infracore aims to utilize its strong presence in Ethiopia as a springboard to enhance its influence in neighboring countries. “Based on this, we will expand our market to neighboring countries and strengthen our brand influence across Africa,” he further stated.

The company’s expansion plans also include extending its sales force from the Middle East to the broader African landscape. This strategy responds to the rising demand for construction machinery from ongoing infrastructure initiatives and social overhead capital developments across the continent.

HD Hyundai Infracore’s recent acquisition of a major order for excavators signifies its commitment to escalating operations in Ethiopia and Africa at large. The demand is driven by Ethiopia’s expanding mining industry and significant infrastructure projects, positioning the company for future growth in the region. With a solid market share and plans for regional expansion, HD Hyundai Infracore is strategically positioning itself to strengthen its brand across Africa.

Original Source: www.businesskorea.co.kr