HD Hyundai Infracore Secures Major Order for 100 Excavators in Ethiopia

HD Hyundai Infracore has secured a major contract for 100 excavators in Ethiopia, enhancing its market position. This deal is part of Ethiopia’s efforts to improve its mining sector and major infrastructure projects, such as the construction of a large airport. The company intends to leverage this success to expand its presence in neighboring countries and throughout Africa.

HD Hyundai Infracore has successfully secured a substantial order for 100 large excavators in Ethiopia, signifying a significant advancement in its strategic growth across Africa. Announced on March 25, the contract involves supplying 36-ton crawler-type excavators to two Ethiopian mining development firms, with the delivery expected to be finalized by June this year.

This contract coincides with Ethiopia’s efforts to enhance its mineral sector, particularly utilizing resources like cobalt and lithium. In addition, a major infrastructure project near Addis Ababa aims to build Africa’s largest airport, projected to handle 110 million passengers annually, further boosting the demand for construction machinery, including the excavators from HD Hyundai Infracore.

In 2022, HD Hyundai Infracore achieved a commanding 57% market share in Ethiopia by selling 212 units of the same excavator model, solidifying its status as the leading supplier in the region. This growth mirrors a wider trend across Africa, where the sales of excavators and medium-to-large wheel loaders increased by 34.8%, jumping from 13,500 to 18,200 units last year.

A company representative highlighted the strategic importance of Ethiopia, stating, “Ethiopia is a key market, accounting for more than one-third of sales in the African market.” In response, the company aims to utilize its strong Ethiopian presence to expand into nearby countries and enhance its brand throughout Africa, noting, “Based on this, we will expand our market to neighboring countries and strengthen our brand influence across Africa.”

HD Hyundai Infracore’s expansion is not limited to Ethiopia; the company plans to extend its sales efforts from the Middle East into the wider African market. This strategy addresses the increasing demand for construction machinery driven by various infrastructure projects and social overhead capital (SOC) development initiatives throughout the continent.

HD Hyundai Infracore’s recent order for 100 excavators in Ethiopia highlights its commitment to expanding in the African market. By capitalizing on Ethiopia’s mineral resource development and infrastructure projects, the company aims to maintain its leading market position and further explore adjacent markets. This strategic initiative reflects the growing demand for construction machinery driven by significant infrastructural advancements across Africa.

Original Source: www.businesskorea.co.kr