Cable Deal in US
Taihan Electric Wire Co., South Korea’s leading provider of industrial cables, said on November 3 that it reached a quarterly milestone of obtaining a total of US$100 million (114.25 billion won) worth project deals in the United States in the fourth quarter. It is a record quarterly amount for the October-December period since it entered the U.S. market in 2000.
On the same day, the company clinched a US$56 million (65 billion won) order from the Los Angeles Department of Water and Power (LADWP).
Under the latest deal, Taihan Electric Wire will supply new cables and connecting devices and carry out overall construction to modernize the aged 138 kilovolt ultra-high voltage underground cables that were last installed in 1960s and 1970s.
In October, the company had also received a US$52 million (60 billion won) project order from a power company in California to supply 230 kilovolt ultra-high voltage underground cables and connecting devices. The massive project involves line construction reaching 20 kilometers and taking initial operation tests.