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Taihan met with Saudi Arabia's Minister of Industry and Mineral ResourcesTaihan Cable & Solution met with Saudi Arabia's Minister of Industry and Mineral Resources​at a hotel in Seoul on December 15th to discuss cooperation plans, including investment in a cable factory. The meeting was organized to discuss investment and business cooperation in Saudi Arabia during the Saudi minister’s visit to Korea. The attendees shared the current status of an extra-high-voltage cable factory in Saudi Arabia that Taihan is promoting and discussed future plans in detail.  

Taihan meets with the Minister of Investment of Saudi Arabia to discuss the local business promotion​On the Nov. 13th, 2022, Taihan announced that it had met with Saudi Arabia's Minister of Investment Khalid A. AlFalih, who was visiting Korea, in the afternoon of the Nov. 11th, 2022 to discuss plans for investment and business expansion, etc. in Saudi Arabia. Related persons of both sides, such as Minister Alfalih, CEO of Saudi Electricity Project Development Co. Mahdi N. AlDosary, Director of Korea Office of the Ministry of Investment of Saudi Arabia Hesham AlMasaud, Hoban Group Chairman Kim Seon-kyu, President of Taihan, Na Hyung-gyun and Vice President of Taihan Kim Yun-soo, and Hoban E&C Executive Director Kim Min-seong, attended the meeting. The two sides exchanged opinions on mid- to long-term business expansion plans in Saudi Arabia, including the Saudi extra-high-voltage cable production corporation that Taihan is promoting. Earlier, on the Oct. 26th, 2022, after the two sides signed an investment agreement for a Saudi extra-high voltage cable production corporation at the ‘Future Investment Initiative (FII) Forum’ hosted by the Ministry of Investment of Saudi Arabia in Riyadh, they had a meeting to discuss the business in detail. 

Taihan discusses business cooperation with Saudi Arabia’s Aramco​On the Oct. 14th, 2022, Taihan discussed ways to cooperate with Saudi Arabia's Aramco, the world's largest oil company, at Hoban Park to reinforce its global partnership. About 20 key officials including Ahmad A. Al-Sa'adi, Senior Vice President of Aramco, Mutib A. Al-Harbi, CEO of Aramco Korea, Bandar F. Al-Otabi, Procurement Representative, Hoban Group Chairman Kim Seon-gyu, Hoban E&C Vice Chairman Song Jong-min, and Taihan President Na Hyung-gyun attended the meeting. Through this discussion, the two companies agreed to strengthen their business partnership. Taihan requested extensive support for the construction of a Saudi extra-high-voltage cable production plant, which is being promoted by Taihan, and Aramco expressed appreciation for Taihan's interest and investment in Saudi Arabia and said that it will actively cooperate on business development plans of the two companies. 

Construction for the extra-high-voltage cable factory in Saudi ArabiaTaihan appears ready to step up its local investment plan in Saudi Arabia. On the 15th, the company signed a new contract at Hoban Park Building #2 (Umyeon-dong, Seocho-gu) on creating a joint venture (JV) tasked with building an extra-high voltage cable production plant in Saudi Arabia. Taihan’s joint investor for the project is the Mohammed Al-Ojaimi Group, an EPC specializing in the transmission and distribution of electricity across Saudi Arabia. Taihan is set to invest 51% of the USD 80 million in total investments (approx. KRW 100 billion) for this new project. The factory will be built on a site stretching across 70,000m2 in a high-tech industrial complex located in Riyadh, the nation’s capital. Once the factory is complete, Taihan will begin the local production of extra-high-voltage cables and power equipment required in extra-high-voltage power grids, and this, in turn, will have a positive impact in helping the company secure the technology and competitive pricing it needs to grow its business in the Middle East, Europe, and Africa. 

Saudi Taihan, Taihan’s new production base for the power grid market in the Middle East, now open for business​On August 28, Taihan announced the successful conclusion of its opening event, hosted on August 27 (local time) in Riyadh (capital of Saudi Arabia), for its “Saudi Taihan” electric cable accessory company. More than 100 guests, including Abdulaziz Al-Abdulkarim (Deputy Minister of Energy, Industry and Mineral Resources (MEIM) of the Saudi Arabian government), and other executives from Aramco (state-owned oil corporation in Saudi Arabia), the Saudi Arabian Electricity Authority, the National-Grid Agency, power construction companies, and major clients from GCC countries, as well as agencies and corporations involved in the energy sector in Saudi Arabia and the Middle East, attended the event. Key executives from Taihan, led by CEO Na Hyoung-kyun and the heads of each regional market in the Middle East, were also in attendance for the opening event in addition to the president of the Mohammed Al-Ojaimi Group (joint venture partner of Taihan), and Director Kim Seung-il (Head of Saudi Taihan). The event featured a series of ceremonial and congratulatory addresses, followed by a report on the establishment of the corporation. Guests were also taken on a tour of the facilities to round out the event. CEO Na Hyoung-kyun explained the progress and future vision of Saudi Taihan, saying, "As the only local corporation capable of supplying HV-level cable accessories to the SEC, we will supply high-quality products at competitive prices. This will help alleviate the pressure on the Saudi Arabian power sector, which has been importing all electrical cables and accessories from overseas.” He added, “We plan to expand from Saudi Arabia to other GCC countries, the African continent, and Europe. To do so, we are going to continue exploring ways to broaden Saudi Taihan’s production facilities moving forward.” And he also said, “Taihan is a major supplier of electric cables and accessories to Saudi Arabia’s national power grid. Through various collaborative relationships established in the power sector, we will contribute to the government's ‘Vision 2030’ initiative and push for the mutual development of Saudi Taihan and Saudi Arabia’s power sector.” ​Saudi Taihan is the first high-voltage cable accessories producer, not only in Saudi Arabia, but also in the entire GCC region. It was established in February 2017 based on the joint investment between Taihan and the Mohammed Al-Ojaimi Group. After that, the company has been laying the groundwork for a stable supply of products by building factories and securing the required production facilities in Riyadh and by obtaining the necessary quality certifications. In particular, in May of this year, Saudi Taihan obtained the pre-qualification (PQ) for HV cable accessories from the Saudi Electricity Company and completed its registration as a supplier.

TAIHAN establishes joint venture in Saudi, part total localization strategy.   TAIHAN will establish a production company for high voltage (hereinafter referred to as "HV") cable accessory in the capital of Saudi Arabia (hereinafter referred to as "Saudi"), Riyadh to get the ball rolling for its localization strategy. The new joint venture is called ‘SAUDI TAIHAN’, which was jointly funded by the Mohammed Al-Ojami Group, a local cable accessory company in Saudi. TAIHAN plans to build a basic production facility for the HV cable accessory by the second quarter on a factory site that covers about 8,000 square meters in Riyadh, and looks to complete construction on the plant by the third quarter. ‘SAUDI TAIHAN’ is the first HV-class cable accessory company located in Saudi.  In the past, Saudi has met demand for HV-class cable accessory by importing it from Germany and the United States. ‘SAUDI TAIHAN’ plans to increase TAIHAN's competitive edge by localizing production based on its technical prowess. In line with this goal, TAIHAN now has under ownership of five production plants and corporations, including cable and cable accessory factories in South Korea, TCV in Vietnam and M-TEC in South Africa. 

Taihan takes a 52 million USD order for 380kV extra-high voltage cable in Saudi Arabia Taihan took orders for two Saudi Arabian projects in a row. Taihan announced on the 19th that it received orders for 380kV extra-high voltage cable projects with scale of 52 million USD in a western city Jeddah and the capital Riyadh of Saudi Arabia. Scale of each order is 42 million USD and 10 million USD, In particular, the project in Jeddah is a large-scale project with 95km cable length.   Taihan supplies 380kV extra-high voltage cables and all connection materials for these two projects, and it is in charge of construction work. These orders were taken under adverse conditions of the Middle East where electricity projects are being delayed because of low oil prices. Taihan demonstrated its competitiveness in the Saudi Arabian market, the largest power consumer in the Middle East.  

Taihan signs MOU with Saudi Electricity CompanyCapturing the Saudi market through cooperation on electricity field ​Taihan signed an MOU with Saudi Arabia, the largest electricity market in the Middle East, to reinforce its cooperative relationship in the field of electricity. Taihan decided to capture the market by signing the MOU with Saudi Electricity Company in Saudi Arabia on April 14. Through this agreement, Taihan plans to expand its exchange and technical assistance on cables and cable systems, reinforcing human resource exchange through operation of education programs.Taihan has a solid trust relationship as a partner of Saudi Electricity Company.   

TAIHAN has been awarded with 380kV Extra High Voltage cables from Saudi Arabia- 380 kV Extra High Voltage cables for building large-scale subway in Saudi Arabia- Proven competitiveness for high voltage cables to "technologically advanced"TAIHAN, after awarded of Project 500 kV project for the first time in the United States, has obtained two more projects of 380 kV Extra High Voltage underground cables in Saudi Arabia demonstrating its solid competence within the field. ​TAIHAN has obtained two new construction projects of 380 kV power grid with 167 km of extension for a large-scale subway project, 'Riyadh subway '. It is currently under construction in the city of Riyadh, the capital of Saudi Arabia.TAIHAN will provide turnkey solutions, including Extra High voltage cables and connection components and the design of the electrical network connections and commissioning. ​​'RIYADH Subway' is a project initiated in the area of RIYADH and the order received is considered as a vital part of the electrical infrastructure for the subway of Riyadh. Given the nature of the work in urban transit, it has been strictly monitored, during the process of selection of the contractor, the ability of high productivity and efficient work. TAIHAN has received two of the three main 380 kV power grids, standing among global company in the world, and will supply 60% of the corresponding cables. 

TAIHAN, green light for foreign orders in the second semesterTAIHAN acquired 5 high voltage cable supply projects. 3 of them come from Saudi Arabia, 1 from UAE, 1 from India for a total  length of  271km. ​ The 3 projects in Saudi Arabia are requested by the Saudi Energy Authority (SEC-COA) and are about the works of connection between the new substation in Riad, Saudi Arabia capital city, and another existing substation, and another new substation for the high voltage transmission underground cable lines.​ The volumes of the orders are of  106km, 124km, 41km respectively, being a total of  271 km overall orders from Saudi Arabia.​ TAIHAN will deliver 380kv extra high voltage cables and the additional materials and will be responsible for the whole process of the work including testing.