South Korean company Taihan Cable & Solution plans to invest USD 360 million in the initial phase of constructing its second submarine cable manufacturing facility. The new plant is expected to have nearly five times the production capacity of its first facility.
Taihan began the first phase of its initial submarine cable facility in May 2024, located at Pyeongtaek’s Dangjin Port, covering 44,800 square meters. The second phase, designed for export cable production, is scheduled for completion by mid-2025.
The company has approved approximately USD 360 million (KRW 497.2 billion) for the first phase of its new plant, which will cover 215,000 square meters in the Godae District of the Asan National Industrial Complex in Dangjin, near the current facility.
Construction is set to start this year, with the initial phase dedicated to producing 640 kV-class HVDC and 400 kV-class HVAC submarine cables and will include a Vertical Continuous Vulcanization (VCV) system.
The first phase is expected to be operational by 2027. Additional investment for further expansion will depend on market conditions.
Taihan’s investment is fueled by increased global demand for submarine cables, the growth of the offshore wind power market, and the company’s role in the West Coast Energy Highway project.
“Our new plant construction addresses the rising demand for HVDC submarine cables and positions us in the ‘West Coast Energy Highway’ project,” said Taihan’s Vice Chairman Song Jong-min.
“We aim to lead the global market, enhance national competitiveness, and bolster energy security with our submarine cable expertise.”
Original Story at www.offshorewind.biz