SEOUL, KOREA - Taihan Electric Wire said on December 16 that it has won a US$76-million contract with the Qatari government to provide extra-high-voltage power cables.
A company official said, "The latest deal is the first time in five years after we entered the Qatari market in 2008. This is a meaningful milestone given Qatar is famous for strict bidding qualifications and complicated certification procedure."
The project was commissioned by Qatar General Electricity & Water Corp., or Kahramaa, which has plans to invest up to $10 billion by 2018 in response to the rapidly rising demand for electricity.
Under the terms of the agreement, Taihan Electric Wire will set up an underground power line linking an old substation with a new one in Doha, the capital of the Persian Gulf country, while connecting substations in Mesaieed, an industrial city 50 kilometers south of Doha. The two projects will each take about 15 months and 19 months to complete after their launch.
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