This undated file photo provided by Taihan Cable & Solution Co. shows extra high-voltage cables being shipped for exports to Europe. (Image courtesy of Yonhap)
SEOUL, Jan. 10 (Korea Bizwire) — Taihan Cable & Solution Co., South Korea’s second-largest cable company, said Friday it has received a 100 billion-won (US$68.6 million) extra high-voltage cable order in Britain.
Taihan Cable has obtained the deal from Balfour Beatty plc, a London-based infrastructure construction contractor, to supply 400 kilovolt high-voltage cables and cable accessories for a cable replacement project in the eastern part of Britain, the company said in a press release.
The latest order will help the company win additional cable supply deals in Europe where countries are expected to increase their investments in the power grid infrastructure to achieve their carbon neutrality targets, it said.
In November 2023, Taihan Cable signed a memorandum of understanding (MOU) with the British firm for partnership in the power transmission and distribution business. The deal is part of their initial agreement.
Under the MOU, the two companies agreed to jointly participate in 220 million pounds (US$270 million) worth of cable installation and replacement projects scheduled through 2030 in Britain, the release said.
(Yonhap)
