SEOUL, May 25 (Korea Bizwire) — Major South Korean cable maker Taihan Cable & Solution Co. said Thursday it has won a US$65 million contract in Kuwait.
The deal calls for Taihan Cable & Solution to install 330-kilovolt underground cables connecting substations in Kuwait City in order to meet growing electricity demand in the Kuwaiti capital.
Taihan Cable & Solution clinched the contract on a full turnkey basis, which means the company will not only supply cable products but also do construction work and conduct test operations.
The cable manufacturer said it has beaten global rivals to obtain the deal after showing its technological capabilities through the successful completion of several high-voltage turnkey projects in the country.
Taihan Cable & Solution said it has been pushing to bag more high-voltage cable projects in Kuwait as the Mideast country aims to sharply expand its power grid.
Early this year, the company broke ground for the first fiber-optic cable plant in Kuwait, which is slated to be completed within this year.