Infrastructure company Balfour Beatty and South Korean construction company Hoban have entered into a memorandum of understanding (MOU) to jointly work on power projects in the UK.
As part of the agreement, the parties seek to develop a distinct offering via modern designs, specialist goods, and customer-centred services.
Balfour will collaborate directly with Hoban subsidiary Taihan Cable and Solution on large-scale onshore power transmission and distribution projects.
The partners will direct their efforts to deliver sustainable, low-carbon solutions and increase efficiency and productivity, with a special focus on modern methods of construction and building information modelling.
The collaboration strengthens Balfour’s commitment to meeting the UK’s rising need for sustainable, secure energy.
Balfour CTO Chris Johnson said: “At Balfour Beatty, our unique end-to-end capabilities mean we are perfectly positioned to capitalise on the emerging UK energy market opportunities and deliver the critical national infrastructure required for the UK to achieve net zero by 2050.
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“This latest partnership with Hoban Group is built on true collaboration and will further strengthen our ability to deliver high-quality sustainable solutions for large-scale onshore Power Transmission and Distribution projects.”
Balfour will leverage its specialist capability while Taihan Cable will bring its 70 years of experience in creating innovative cabling products to future projects.
Hoban Group chair Kim Sun Kyu said: “The partnership will strengthen the strategic relationship the two parties have been developing and we will deliver collaborative business models such as an exchange of technical knowledge and resources. This collaboration will assist [the] UK Government’s net zero target.”