Taihan Cable secures $65 mn cable contract in US

South Korea's Taihan Cable & Solution Co. said on Tuesday its US sales subsidiary, TE USA, secured a long-term cable contract in the western US. 

The agreement entails supplying power cables worth 30 billion won ($21.8 million) annually, with a potential total value of up to 90 billion won ($65.3 million) over three years.

The company has won a cable supply project worth about 20 billion won in the eastern US.

With these contracts, Taihan Cable’s total orders in the US market this year have surpassed 720 billion won, marking a record high since the company entered the North American market.

Its previous record annual order volume of $290 million in 2022.

In the US, more than 50% of the underground power grid has exceeded its 40-year lifespan, and the recent surge in demand due to AI and data centers has heightened the need to upgrade the grid.

The cables supplied under this contract will be used to support power grid infrastructure, ensuring stable power supply across key regions in the US. 

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