<기사>Daehan Electric Wire Establishes Joint Venture and Factory for Ultra-High Voltage Cables in Saudi Arabia

President Na Hyung-gyun Personally Visits Dubai to Sign MOU and Strengthen Partnership

President Na Hyung-gyun of Korea Electric Wire Co., Ltd. (left), Salem, Vice Chairman of the Mohamed Al-Ojaimi Group (center), and CEO Caleb (right) are taking a commemorative photo after signing an MOU to establish a Saudi ultra-high voltage cable JV in Dubai on the 9th.

[Asia Economy Reporter Park Sun-mi] Daehan Electric Wire is strengthening its competitiveness in the cable sector by securing overseas production bases.

On the 10th, Daehan Electric Wire announced that it will establish a joint venture corporation for ultra-high voltage cable production in Saudi Arabia and build a new factory. This is Daehan Electric Wire's first ultra-high voltage cable factory overseas, concretizing its strategy to secure order competitiveness through localization of production.

The investment partner is the Saudi power transmission and distribution specialized EPC, Mohamed Al-Ojaimi Group. To successfully promote the joint venture, the two parties signed a memorandum of understanding in Dubai, United Arab Emirates (UAE), the day before. Attendees included Na Hyung-gyun, President of Daehan Electric Wire, the head of the overseas energy division, the head of global marketing, and Salem, Vice Chairman of the Al-Ojaimi Group.

For the factory construction, the two parties secured approximately 70,000㎡ of factory land in an advanced industrial complex located in Riyadh, the capital of Saudi Arabia. This site is owned by the partner Al-Ojaimi Group and is adjacent to Daehan Electric Wire’s power equipment production corporation ‘Saudi Daehan,’ making it the most suitable location for new factory construction in terms of infrastructure utilization, investment cost reduction, and management and operation.

Daehan Electric Wire plans to expand its market from Saudi Arabia to Gulf Cooperation Council member countries such as Qatar and Kuwait, as well as Europe, supplying ultra-high voltage cables of 380kV class. In addition, through the advancement and synergy of ‘Saudi Daehan,’ it plans to directly secure and independently execute turnkey power grid projects.

A Daehan Electric Wire official said, “The Middle East has traditionally been a stronghold for Daehan Electric Wire’s orders, and through local production, we will further solidify our position as a major supplier. Especially in Saudi Arabia, where national infrastructure projects are expanding due to the high oil price trend and Vision 2030, this presents a great opportunity for Daehan Electric Wire.”

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