6 days ago
Taihan to build Vietnam's first ultra-high-voltage cable plant
Korean cable manufacturer Taihan Cable & Solution announced Wednesday that it will build its first overseas facility for ultra-high-voltage electric cable in Vietnam, betting on the country's rapidly growing electricity demand.
The company will invest 75 billion won ($54.2 million) to expand the existing facility of its Vietnamese subsidiary, Taihan Vina, in Dong Nai province, southern Vietnam.
The expansion, set for completion in 2027, will make it Vietnam's first facility to produce cables exceeding 400 kilovolts.
According to the Vietnamese government, the nation's power demand is expected to grow by 10 to 12 percent annually through 2030, driven by increasing investment from global manufacturers and large-scale infrastructure projects.
With the expanded local capacity, Taihan aims to boost its competitiveness in local power grid bids by cutting manufacturing and delivery costs compared to production in Korea.
Beyond serving the local market, the company plans to turn the Vietnamese facility into a key export hub for Europe, North America and Oceania, leveraging Vietnam's central position on global shipping routes and its 17 active free trade agreements.
'Vietnam's favorable industrial environment, infrastructure and geographical advantages will provide a strong foundation for Taihan Vina to establish itself as a major global supplier in the ultra-high-voltage cable sector," said a Taihan official.
"With this plant investment, Taihan Vina will lead the improvement of Vietnam's power grid while expanding its footprint from Asia to markets worldwide.'
