Korean manufacturer of electric wires and cables Taihan Cable & Solution said Thursday that its South African subsidiary has secured a 52 billion won ($35.6 million) power grid project, strengthening the company’s foothold in the region amid rising demand for grid expansion.
Under the contract, Taihan’s local branch M-Tec will supply medium- and low-voltage cables as well as overhead conductors to Eskom, South Africa’s state-run power utility.
South Africa, which has long been plagued by frequent power outages that have hindered industrial productivity, is accelerating efforts to modernize its aging electricity infrastructure with high-efficiency systems. With Eskom planning continued investments in the power grid over the next five years, M-Tec expects the latest contract to pave the way for further orders in the future.
“South Africa is one of the largest economies in Africa, with a well-developed financial and industrial foundation. Recently, it has seen renewed momentum in investment across electricity and infrastructure sectors,” said a Taihan official.
“Backed by local production capabilities, multiyear project experience and strong regional networks, M-Tec aims to become a key utility infrastructure supplier across the African continent."
Overhauling the power grid has been a key national priority for South Africa. Since 2022, President Cyril Ramaphosa has been actively pushing a nationwide energy action plan to rapidly expand generation capacity to close the country’s electricity supply gap.
Established in 2000, M-Tec has been involved in a wide range of infrastructure projects in South Africa. Driven by the rising demand for energy infrastructure, the company posted annual sales of 123.5 billion won in 2024, marking a 33 percent increase from the previous year.
forestjs@heraldcorp.com
