'DaeHan Jeonseon Targets Africa, Wins 52 Billion KRW Power Grid Contract'

M-TEC Wins 52 Billion KRW Power Grid Project from Eskom
Daehan Electric Wire & Cable Strengthens Its Foothold in the African Market

Daehan Electric Wire & Cable has begun to actively expand its presence in the African power market.

Daehan Electric Wire & Cable announced on the 10th that its South African manufacturing subsidiary, M-TEC, has secured a power grid supply project worth approximately 52 billion KRW. The contract was awarded by the local state-owned power company Eskom. In this project, M-TEC will supply medium and low voltage (MV/LV) cables and overhead lines.

Exterior view of M-TEC, the South African manufacturing subsidiary of DaeHan Cable. DaeHan Cable

South Africa is facing increasing demands for power grid expansion due to repeated blackouts and chronic power shortages. Eskom has established a long-term plan to replace aging facilities and improve transmission efficiency, with plans for large-scale investments over the next five years. M-TEC also plans to participate in medium- to long-term project bids.

M-TEC, established by Daehan Electric Wire & Cable in 2000, has been recognized for its quality and project management capabilities through various projects in South Africa. Last year, it achieved record-high performance with sales of 123.5 billion KRW, an increase of over 33% compared to the previous year, and operating profit doubled to 8.8 billion KRW.

Daehan Electric Wire & Cable is positioning M-TEC as a strategic base for entering the African market and is continuously strengthening production competitiveness and quality. The investment to expand medium and low voltage cable production facilities, which began in the second half of 2023, is expected to be completed in the first half of this year, aiming for sustained growth in the African market.

A Daehan Electric Wire & Cable official stated, "South Africa is the largest economy in Africa with a well-established financial and industrial infrastructure, and recent investments in power and infrastructure are becoming active. M-TEC will become a power infrastructure supply hub covering the entire African continent through its local production base and order achievements."