South Korean cable manufacturer Taihan Cable & Solution said Tuesday that its order backlog topped 3 trillion won ($2.16 billion) at the end of last month, marking the highest record in its history.
The backlog stood at 3.25 trillion won, up 3.5 times from 945.5 billion won at the end of 2020, just before the company was acquired by Hoban Group. The compound annual growth rate since then exceeds 30 percent.
The figure excludes material businesses using copper rods and wires, communication cables, and domestic private sector sales.
It only reflects high-profit, mid- to long-term projects that largely involve ultra-high voltage power grids, the company said.
In August alone, the company secured more than 510 billion won in new orders, including the Anma offshore wind submarine cable project in Korea, a 400-kilovolt ultra-high voltage power grid project in Singapore, and another ultra-high voltage grid project in Qatar.
These large-scale turnkey contracts cover the entire process from cable production to installation, construction and testing.
The company noted that its accumulated project experience and turnkey capabilities in global markets have driven the expansion of orders. It aims to further strengthen its competitiveness in submarine cables and high-voltage direct current cables.
"We have reached our highest order backlog ever, demonstrating our technological and operational capabilities in ultra-high voltage power grids and submarine cables both at home and abroad," said the company official.
"We will continue to play a key role in building next-generation power infrastructure, including the West Coast Energy Highway project."
andreahaneu@heraldcorp.com
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