Taihan Electric Wire Co., South Korea's No. 2 cable maker, said Tuesday that it has clinched a combined US$40.26 million in orders to supply high-voltage power cables to Saudi Arabia.

Under a $24.5 million deal, Taihan will supply 380-kilovolt cables to be used for a power generation project in the region of Qurayyah, according to the cable manufacturer.

Taihan also said it sealed a $15.76 million contract to build an underground electricity transmission network in the Saudi city of Jeddah.

The highly profitable market for high-voltage power grids is forecast to continue to grow as Saudi Arabia and other Middle Eastern countries are rushing to upgrade power infrastructure and improve the efficiency of power transmission.

A Taihan official said that the electric cable maker will redouble efforts to tap deeper into overseas markets, based on its globally recognized product quality and technological prowess.

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Source: Yonhap News (Apr. 17, 2012)