LS Cable wins contract to export submarine cable to Singapore
SEOUL-- LS Cable & System said Monday it won a 62 billion won (US$54.69 million) submarine cable contract with Singapore PowerGrid, the first such project to be secured by a South Korean firm in Southeast Asia, according to the company.
The contract is for 1.5 kilometers of high-voltage submarine cable that will connect Singapore's northern new town of Woodlands with Malaysia's southern resort city of Johor Bahru. It will replace an aged cable laid by a French company in 1985.
Only about five companies worldwide, including those in Japan and Europe, can install high-voltage submarine cables. LS Cable & System is the only such company in South Korea.
"Demand for such cable installation is growing in Southeast Asia to connect island areas," company CEO Myung Roe-hyun said. "By successfully winning this contract in a competition with leading global cable companies, we will be able to gain a favorable position in Southeast Asia."
LS Cable & System was chosen last month to supply high-voltage cables for Singapore's next-generation power grid construction.
Source: Yonhap News Agency