LS and Taihan Electric Wire Secure Major International Projects
LS Cable & System and Taihan Electric Wire, two leading companies in the South Korean cable industry, have both secured significant overseas power projects.
On the 10th, LS Cable & System announced that it had won a 200 billion KRW ultra-high voltage power cable supply project from the Singapore Power Authority. This project is part of a large-scale energy infrastructure initiative to transmit solar power generated in Indonesia to Singapore. LS Cable & System will supply 230kV ultra-high voltage cables for the underground transmission section connecting to the substations.
Meanwhile, Taihan Electric Wire’s South African subsidiary, M-TEC, reported that it had secured a 52 billion KRW power grid supply project. Commissioned by the state-owned power company Eskom, the project involves supplying medium-to-low voltage cables and overhead lines. This project is part of a large-scale effort to stabilize South Africa’s power infrastructure.
Both LS Cable & System and Taihan Electric Wire plan to expand their business footprints in the Singaporean and South African power markets through these projects. The Singaporean government is aiming to convert 25% of its total power to renewable energy, accounting for 6GW, by 2035. This has led to a surge in demand for high-value underground cables, as the country’s power grid will be constructed using underground cables without the need for transmission towers. An LS Cable & System official said that the supply of underground cables opens up opportunities to expand into the submarine cable sector.
In South Africa, recurrent power outages and chronic energy shortages have heightened the demand for power grid expansion. Eskom has formulated a long-term plan to replace aging power facilities and improve transmission efficiency, with major additional investments anticipated over the next five years.
Taihan Electric Wire is using South Africa as a strategic base for entering the African market, enhancing productivity and quality. M-TEC aims to complete the expansion of its medium-to-low voltage cable production facilities by the first half, which began in the latter half of 2023.