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Taihan Cable part of joint venture to start a high-voltage cable plant in Saudi Arabia

6/3/2022 - South Korea’s Taihan Cable and Solution has signed a Memorandum of Understanding (MoU) to establish a joint venture (JV) in the United Arab Emirates (UAE).

Per a report at www.businesskorea, Taihan Cable and Solution announced that it will establish a joint venture in Saudi Arabia to produce ultra-high voltage cables. It will be the first ultra-high voltage cable plant to be built overseas by Taihan Cable and Solution.

The company is partnering with Mohammed Al-Ojaimi Group, a Saudi Arabian EPC company that specializes in power transmission and distribution. The two companies have secured a factory site in a high-tech industrial complex in Riyadh, the capital of Saudi Arabia, for the construction of the factory. The site is owned by Mohammed Al-Ojaimi Group and is adjacent to Saudi Taihan Cable Co., a subsidiary of Taihan Cable and Solution that produces electric equipment.

Taihan Cable and Solution is planning to expand the market for its 380kV ultra-high voltage cables from Saudi Arabia to the Gulf Cooperation Council (GCC) region including Qatar and Kuwait, and Europe. The company notes that it currently has five production bases: a cable factory and a power equipment factory in Dangjin, South Chungcheong Province of Korea, an HV cable factory in Vietnam, an MV cable factory in South Africa and an electric equipment factory in Saudi Arabia. It is also building a submarine cable plant in Dangjin and an optical cable plant in Kuwait.

Per Wikipedia, Taihan Cable & Solution was established in 1955 as the first wire and cable company in South Korea. It has a manufacturing plant in Gyeonggi-do and Chungcheongnam-do and a research center in Gyeonggi-do as well as overseas offices in South Africa, Democratic Republic of Congo, Vietnam, Hong Kong, Mongolia, the U.S., Canada, United Arab Emirates, Saudi Arabia, Kuwait, Singapore, Malaysia, Thailand and Australia.

Read 384 times Last modified on July 3, 2022