Taihan Cable & Solution announced on the 16th that it will invest 497.2 billion won in the construction of phase 1 of its offshore cable factory in Dangjin, Chungcheongnam-do.
The company explained that it decided to invest in order to secure production capacity in line with the expansion of the offshore wind power generation and underwater cable markets. The investment period is until December 2027.
Taihan Cable & Solution plans to begin construction of the offshore cable factory 2 within this year. Phase 1 of the factory will be a dedicated facility capable of producing 640-kilovolt (kV) high-voltage direct current (HVDC) and 400 kV high-voltage alternating current (HVAC) underwater cables. It will be equipped with state-of-the-art facilities, including the vertical continuous vulcanization (VCV) system, which is the core equipment for high-voltage cable production.
The site for the offshore cable factory 2 is located adjacent to the existing offshore cable factory 1 within the Asan National Industrial Complex in Dangjin. The area is approximately 215,000 square meters, equivalent to the size of 30 soccer fields.
Phase 1 of the factory aims to be operational by 2027. The company noted that investment for phase 2 of the factory will be strategically pursued considering future market conditions. Once the factory is operational, it will secure production capacity at approximately five times that of the existing offshore cable factory 1.
Vice Chairman Song Jong-min said, "The construction of the offshore cable factory 2 will enable us to respond to the expanding demand for HVDC underwater cables and prepare for participation in the West Coast Energy Expressway project."