Riyadh – Mubasher: Taihan Electric Wire announced establishing a joint company "Saudi Taihan" in cooperation with the Saudi Mohammed Al-Ojaimi Group in Riyadh.
Saudi Taihan plans to provide establishments with high-voltage (HV) electric equipment on an area of 8,000 square metres, according to Yonhap news agency on Thursday.
The firm is expected to install the main buildings till the second quarter of the year and complete the construction of the factory by the third quarter.
The company is considered the first Saudi firm to produce HV equipment, where Saudi Arabia fully depends on imports from Germany and the US.
The decision to build the factory comes after demand for HV electric equipment has steadily grown across Gulf Cooperation Council (GCC) countries including Saudi Arabia, Pulse News quoted a Taihan Electric Wire official.
He added that the new joint venture is expected to pave the way for access to other markets such as Africa and Europe.
