Walsin Liwha and NKT, a Danish off-shore cable company, are to execute agreements to develop the submarine cable business2023.02.24
On the 24th February, the Board of Walsin Lihwa Corporation (“Walsin”) approved a partnership with NKT HV Cable AB, a fully owned subsidiary of NKT Group, the Danish leading offshore cable solutions provider (together “NKT”), to further Walsin’s development in the submarine cable sector.
The partnership will involve Walsin investing 2.7 billion NTD to establish Walsin Energy Cable System Co. Ltd (“Walsin Cable”) and the execution of a Joint Venture Agreement, Technology Licence Agreement and a Technology Consultancy Agreement for the construction and operations of Walsin’s Kaohsiung Submarine Cable plant (“The Agreements”) between Walsin and NKT. Following the execution of the Agreements, Walsin and NKT will hold 90% and 10% respectively of Walsin Cable. The Kaohsiung Submarine Cable plant, which will primarily manufacture high voltage export cables and medium voltage AC cables to serve the offshore wind power market, is expected to undergo trial runs end of 2025, and full production by 2027.
As one of the leading offshore cable manufacturers in the world, with over 130 years of operating history, NKT possesses leading technologies with offshore wind farm practice, and has extensive experience in submarine cable manufacturing, installation and maintenance. NKT operates the world’s largest high pressure testing laboratory, enabling the company to provide customers with a host of comprehensive solutions. This partnership with NKT allows Walsin to expand its product offering to extend into the offshore wind power sector, a further step in Walsin efforts to be an enabler in the green energy transition.
Established in 1966 and listed on Taiwan stock exchange since 1972, Walsin Lihwa Corporation is an industrial conglomerate with operations spanning wire & cable, stainless steel, natural resources, real estate development and investments in renewable energy and electronics, and has over 10,000 employees across Taiwan, PRC, USA, Italy, Malaysia and Indonesia. Walsin is headquartered in Taipei, Taiwan.
For more information, please visit https://www.walsin.com