DaeHan Electric Wire & Cable Wins Consecutive Large-Scale Projects in Singapore for the New Year... Worth 74 Billion KRW

Order Backlog in Mid-January Hits Record High by Volume

Daehan Electric Wire & Cable is carrying out a 400kV project in Singapore.
[Photo by Daehan Electric Wire & Cable]

[Asia Economy Reporter Kim Heung-soon] Daehan Cable recorded the highest order backlog ever as of mid-January, following consecutive cable supply contracts worth 74 billion KRW in Singapore at the beginning of the new year.

According to industry sources on the 22nd, Daehan Cable recently won a project to build a 400kV ultra-high voltage cable power grid ordered by SP PowerAssets, a Singaporean power company. The contract amount for this large-scale project is approximately 50 million USD (about 60 billion KRW).

This project involves constructing an underground power grid on Jurong Island, located in the southwest of Singapore. Daehan Cable will supply the 400kV ultra-high voltage cables and all connection materials, and will carry out the project in a turnkey manner, responsible for power grid design, laying, connection, and testing. The 400kV power grid is the highest voltage used in Singapore, and thorough evaluations of technology and quality are conducted to ensure stability.

This is the first 400kV project in Singapore in over five years since 2016. Daehan Cable explained that it was selected as the final contractor due to high evaluations in comprehensive aspects such as project experience, technical capabilities, and construction skills accumulated over 25 years in Singapore. In addition to this project, Daehan Cable also secured a 12 million USD (about 14 billion KRW) contract to supply 66kV high-voltage cables to be installed at a substation in the southern part of Singapore.

According to Daehan Cable, the order backlog volume at the beginning of this year is 38,000 metric tons (MT) on a weight basis, exceeding the six-year average January order backlog of 22,000 MT since 2016 by more than 70%. It also rose about 28% compared to 29,600 MT recorded in January last year. Compared to 9,400 MT in early 2016, the order volume has expanded about fourfold. Among the 38,000 MT order backlog, ultra-high voltage cable projects with high profitability account for 80%.

Daehan Cable presented a plan to accelerate the progress of already secured orders and improve performance by securing new orders. A Daehan Cable official said, "It is meaningful that we won consecutive projects overcoming fierce competition with leading global companies from Europe, Japan, and others in Singapore, which is considered a demanding market," adding, "As infrastructure investments are actively increasing in each country to overcome the economic downturn caused by COVID-19, continuous order expansion is expected in the future."

This content was produced with the assistance of AI translation services.