South Korea’s Taihan Cable & Solution have signed a memorandum of understanding (MoU) with Myclin Express Offshore (MEO Group), following its successful contract win in Singapore valued at KRW 840 billion.
The MOU, aimed at expanding their cooperation in the offshore wind sector, was formalized during the Korea-Singapore Business Forum held at the Ritz-Carlton Hotel on the 8th of October.
MEO, headquartered in Singapore, operates 14 overseas branches and is recognized globally for its offshore solutions expertise. The company manages a fleet of approximately 120 vessels, including offshore wind support vessels and crew transfer vessels, and has established a solid reputation for executing offshore projects across Southeast Asia, the Middle East, and Africa.
Through this MOU, both companies plan to intensify their collaboration in offshore wind projects. Taihan’s CLV (Cable Laying Vessel), the PALOS, along with MEO’s fleet, will be considered for deployment in offshore wind projects in regions such as Southeast Asia and the Middle East. Additionally, both companies will work closely on the exchange of skilled personnel and collaborate on joint project development in the offshore wind sector.
Earlier on October 4th, Taihan announced that it had secured two contracts with Singapore Power (SP PowerAssets Limited), worth a total of KRW 840 billion, for the supply and installation of 400kV ultra-high voltage power grids. This massive contract amounts to approximately 30% of Taihan’s total sales in 2023 (KRW 2.84 trillion).
