Taihan continues to receive orders from the USA. Taihan Cable & Solution Co., Ltd. has announced that it won an order for a power infrastructure project worth USD 42 billion from a power company in California, USA. It is a large-sized project to establish 275kV high voltage underground power grids in LA in order to respond to electricity demand, expected to sharply increase due to the LA Olympics in 2028.
Including this project, the cable manufacturer received orders worth KRW 190 billion from the USA this year. The cable company has won more than 10 new project orders from California, Florida, New York and other states since April, strengthening its position as a major supplier in the USA. The company is expanding product portfolios after winning orders for 69~275kV high voltage cables, low & medium voltage cables and aerial wires.
According to the cable provider, demand for electricity infrastructure in the USA continues to rise due to the replacement of old power grids and the expansion of new and renewable energy. As the power grid improvement plan worth USD 73 billion is included in the Biden Administration’s USD 1.2 trillion infrastructure investment budget plan, the relevant demand expansion is expected to accelerate.
Equipped with unrivaled competitiveness in the U.S. electricity market, the company is expected to solidly expand its businesses. It plans to continuously increase export products, ranging from the main item of high-voltage cable, to optical and submarine cables that are to be produced after next year.
“Customized solutions through pre-marketing activities and technical support carried out by the U.S. HQs and branches in the eastern and western part of the nation were the key to the achievement.,” remarked a spokesperson for the cable company, adding, “We will continue to strengthen our position as a main supplier based on strong networks and business competence.”
The spokesperson also pointed out that the company would pursue opportunities for winning additional orders by actively responding to the needs of the market as the demand for power grids by the U.S. industrial sector is expected to grow due to the Biden Administration’s plan to enhance the power infrastructure.
Meanwhile, 85% of the total high-voltage cables exported to the USA last year was provided by the company according to the statistical data provided by the Korea International Trade Association (KITA). The top-tier cable provider recorded a 98% market share in 2008, and a 79% market share 2019.
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