Cable Deal in Saudi Arabia
Taihan Electric Wire Co. has won a US$52 million (63 billion won) deal in Saudi Arabia for an extra-high voltage cable system project.
The company announced on January 19 that it was awarded US$42 million (50.67 billion won) and US$10 million (12.07 billion won) contracts in Jeddah in western Saudi Arabia and Riyadh, capital city of Saudi Arabia, respectively, to build 380 kV extra-high voltage cable systems.
Under the deals, Taihan Electric Wire will supply all connecting materials for the projects, including extra-high voltage cables, and will take charge of construction. For Jeddah, it is a large project supplying cables with a length of 95 kilometers alone, said the company.
A Taihan Electric Wire official said, “We expect to continuously win more orders as we have steadily improved our competitiveness with a localization strategy, though the economic condition in Saudi Arabia is tough.”