Taihan Cable wins $137 mn long-term contract in US

South Korea's Taihan Cable & Solution Co. announced on Thursday that its US sales subsidiary T.E.USA has secured a long-term contract worth 190 billion won ( $137 million) in the eastern US.

This project marks the largest contract Taihan Cable has secured in the US. 

Including this recent contract, Taihan Cable has achieved new orders worth about 520 billion won in the US alone this year.

With this accomplishment, the company has surpassed its record of annual cumulative order intake of 400 billion won in North America, set in 2022, within just half a year, setting a new record.

Taihan Cable will supply 138 kV and 345 kV cables and other ultra-high voltage power grid materials for project of aging power grids with new ones in the eastern US.

Over 50% of the underground power grids in the US have exceeded their 40-year replacement period, and the recent surge in power consumption due to advancements in artificial intelligence (AI) has further highlighted the need for these replacements.

Write to Hyung-Kyu Kim at khk@hankyung.com