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LS Cable reports winning power cable contract for underground Qatar project

LS Cable & System announced that it has won an order from the Qatar Electricity & Water Company to supply a range of cables, including extra-high-voltage (EHV), worth approximately US$200 million.

A press release said that the contract, which includes 132kV, 220kV and 400kV cable, represents the largest such underground cable project the Qatar government has ever carried out. LS Cable & System will supply about 70% of the cable needed for the project, which it noted is the largest underground cable contract that a South Korean cablemaker has won in the Middle East.

"The Middle East is such an important market in the cable industry that it occupies about 20% of the global demand for extra-high-voltage cables," the release said. "As large infrastructure investments have been delayed for several years due to low oil prices, however, cablemakers around the world fiercely competed with one another to win contracts."

"LS Cable & System has not only secured the majority of the quantities, but also had its technology recognized by winning the contract for premium 400kV cables," said LS Cable & System President and CEO Roe-Hyun Myung.

The release said that the Qatar government is investing about $2.3 billion to install 77 substations and 450 km of extra-high-voltage cables around the country to expand and improve the power grid. LS Cable & System has been supplying EHV submarine and underground cables to Qatar, Saudi Arabia and Bahrain, and has the largest share of the Middle Eastern market, it said. "The $435 million submarine cable contract that LS Cable & System signed with Qatar Petroleum in 2012 is still the largest cable contract ever won by a domestic cable maker."

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