Taihan Cable and Solution, South Korea announced in a statement that it will establish a joint venture in Saudi Arabia to produce ultra-high voltage cables.
It is the first ultra-high voltage cable plant to be built overseas by Taihan Cable and Solution.
The company has joined hands with Mohammed Al-Ojaimi Group, a Saudi Arabian EPC company specializing in power transmission and distribution. The two companies signed a memorandum of understanding (MOU) for the successful promotion of the joint venture in Dubai of the United Arab Emirates (UAE) on March 9.
The two companies have secured a factory site in a high-tech industrial complex in Riyadh, the capital of Saudi Arabia, for the construction of the factory.
The site is owned by Mohammed Al-Ojaimi Group and is adjacent to Saudi Taihan Cable Co., a subsidiary of Taihan Cable and Solution that produces electric equipment.
Taihan Cable and Solution is planning to expand the market for its 380kV ultra-high voltage cables from Saudi Arabia to the Gulf Cooperation Council (GCC) region including Qatar and Kuwait, and Europe.
Meanwhile, Taihan Cable and Solution currently has five production bases — a cable factory and a power equipment factory in Dangjin, South Chungcheong Province of Korea, an HV cable factory in Vietnam, an MV cable factory in South Africa and an electric equipment factory in Saudi Arabia.
It is also building a submarine cable plant in Dangjin and an optical cable plant in Kuwait.
