Taihan Cable Clinch $630 Million Deal in Singapore

Taihan Cable & Solution, South Korea’s second-biggest cable company, on Friday said that it has won $630.2 million high-voltage cable order from Singapore’s state power company.

The South Korean company said that it has finalised two contracts with SP PowerAssets Limited for the supply and installation of a 400kV EHV power grid across Singapore. This accounts for around 30% of the company’s consolidated sales for 2023, which amounted to $2.2 billion.

Taihan CEO Song Jong-Min said that the NDC373 project, one of the two contracts, amounts to approximately $220 million, making it the largest export of extra-high voltage AC transmission networks in the nation’s history. This marks the most sizable project that Taihan has ever acquired, whether within the country or overseas.

This endeavour is a key project that SP PowerAssets has meticulously prepared over a long period to effectively address the burgeoning electricity demand stemming from the surging demand of AI and data centres.

This grand-scale project entails the construction of a 400kV extra-high voltage underground power grid, the highest voltage in use locally, throughout Singapore, with Taihan undertaking the entire process, from design to production, laying, connection, and testing, in a full turn-key manner.

Due to the critical importance of stability in a 400kV full turn-key project, rigorous evaluation encompassing quality, technical prowess, engineering proficiency, and project management capabilities is carried out when selecting the contractor.

In particular, the high construction difficulty of this project, which includes tunnel sections, required comprehensive and thorough evaluation, and Taihan was selected as a qualified contractor amidst competition with renowned global firms.

Best in Quality

Taihan’s Vice Chairman Song Jong-Min said that winning this landmark project in Singapore, a market known for its stringent technical and quality verification requirements, serves as a testament to Taihan’s all-encompassing competitive advantage in technology, quality, and service.

He also affirmed that Taihan will continue to play a pivotal role in enhancing the national competitiveness by widely promoting the excellence of Korean cable technology and products in key markets across the US, Europe, and Asia.

In the past, Taihan, has successfully completed the 400kV projects conducted in Singapore in both 2016 and 2022, and has now achieved a remarkable feat with the signing of this contract, making it the only company in Korea to have participated in every 400kV full-turnkey project carried out in Singapore.