LS Cable wins 370 bln won deal from Singapore
SEOUL-- LS Cable & System said Monday it has won a 370 billion won (US$327 million) deal to supply underground high-voltage cables for a Singaporean state project, the biggest contract ever clinched by the South Korean wire and cable maker.
Under the deal with Singapore PowerGrid, LS will provide 230-kilovolt extra-high-voltage cables to cover five sections of Singapore totaling 360 kilometers by the end of 2020, according to LS Cable.
The cables will be used to supply electricity in various regions, it added.
LS Cable won the contract on a full turnkey basis, which means the company will deliver the cables as well as take charge of installation and testing.
The South Korean cable maker expressed its hope that the Singaporean contract will help the company secure more deals overseas and allow it to make further inroads into Asian countries as well as in places like France.
LS Cable Asia, the company's Vietnamese unit that has the No. 1 market share in the Southeast Asian country, is currently expanding its presence in neighboring Myanmar, the cable maker said.
Source: Yonhap News Agency