Taihan Cable & Solution secures for the acquisition of the installation vessel “Scandi Connector” 1,000billion won
Taihan Cable & Solution announced that it had received financial support worth 1,000billion won from the Export-Import Bank of Korea to acquire the cable-laying vessel (CLV) “Scandi Connector,” 7 month 2 for the construction of the Dangjin submarine cable 2plant, the company had previously secured 4,500billion won.
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Taihan Cable & Solution disclosed that it would receive financial support worth 7 month 2 from the Export-Import Bank of Korea to acquire the cable-laying vessel (CLV) “Scandi Connector.” The company said in the disclosure that the funding would allow it to proceed stably with the vessel acquisition.1,000The company said in the disclosure that the funding would allow it to proceed stably with the vessel acquisition.
An installation vessel is equipment that performs overall offshore construction work, including the transportation and laying of submarine cables. The company explained that the acquisition would lead to stronger submarine cable construction capabilities.
Taihan Cable & Solution also disclosed that it had secured financial support worth 3 month for the Dangjin submarine cable 2plant construction, amounting to 4,500billion won. This means that securing production facilities and investing in construction infrastructure are proceeding consecutively.
According to the company’s filing, the financing is intended to raise funds for the acquisition of a cable-laying vessel, and the specific acquisition schedule and financing terms will be disclosed later.
The submarine cable business has a value-chain structure combining transportation, installation, and production facilities. Taihan Cable & Solution said in its filing that it would accelerate efforts to build the value chain and secure global order-winning competitiveness.