Posted June. 20, 2017 07:15,
Updated June. 20, 2017 07:31
LS Cable & Systems said on Monday that it won a project to supply ultrahigh-voltage cable in Singapore. The deal entails a large-scale project in which the Singaporean government will install 230kV-class cable in a total of five sections between south and north and between east and west in Singapore by 2020 in order to ensure stable power supply.
The volume of cable to be used alone measures 360 kilometers in total. The project will effectively connect a long distance longer than 325 kilometers (direct distance between Seoul and Busan) via underground cable. The project is valued at about 370 billion won (326 million U.S. dollars).
“ we have demonstrated that our company has secured competitiveness both in quality and price in the global ultrahigh-voltage cable market by clearing all the strict evaluation criteria of the Singaporean power authority and winning order for all sections of the project,” LS Cable CEO Myeong Noh-hyeon said.
LS Cable is aggressively pushing to advance into foreign markets by expanding its investment in Myanmar through LS Cable Asia, which ranks No. 1 in the Vietnamese power cable market, and by establishing a cable production subsidiary in the U.S., and a subsidiary for telecom cable sales in France.