Top cable maker makes inroads in Middle East with big contractTaihan Electric Wire, Korea’s No. 2 cable maker, said yesterday that it has clinched a combined $48.5 million in orders to build power lines in Saudi Arabia and Russia.
Under a $26.5 million deal with a Saudi Arabian electricity company, Taihan Electric Wire will build a 49-kilometer high-voltage electricity line in the Middle Eastern Country over a 10-month period, the Korean company said.
It added that it sealed a $22 million contract last week with Russia’s state power company to construct a high-voltage electricity transmission network.
Under the turn-key project, Taihan Electric Wire said it will build the transmission system in St. Petersburg by the end of this year.
A company official said the latest deals will help Taihan Electric Wire gain a footing in the Middle Eastern and Russian markets, which are dominated by European firms.
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