Taihan Cable wins 840 bln-won order in Singapore power grid project

Taihan Cable and Solution Co., South Korea's second-biggest cable company, said Friday it has won a 840 billion-won (US$630.2 million) high-voltage cable order from Singapore's state power company. Taihan Cable said in a regulatory filing that it obtained the deal from SP PowerAssets Ltd. of Singapore to supply and install 400-kilovolt cables as part of a major power grid installation project across the Southeast Asian country. It marks a major win for Taihan Cable, as it is equivalent to approximately 30 percent of the total consolidated sales of 2.85 trillion won reported by the company last year. Under the turnkey deal, Taihan Cable will be responsible for the power grid design, production, laying and connection, as well as testing. "We will continue to contribute to enhancing the national competitiveness by promoting the excellence of Korean cable technology and products in key markets," Taihan Cable Vice Chairman Song Jong-min said. Source: Yonhap News Agency