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LS Cable & System records Bahrain EHV cable contract worth $125 million

LS Cable & System (LS Cable) has signed a contract with the Bahrain Electricity and Water Authority for an extra-high voltage (EHV) cable project that it valued at
$125 million.

A press release said that the project requires 400 kV EHV cable for a new electrical grid in Bahrain that is part of the government’s efforts to industrialize and urbanize the nation. LS Cable will also be in charge of engineering works involving electricity and civil engineering.

LS Cable notes in the release that it has the largest market share in the Middle East—mainly in Bahrain, Qatar and Kuwait—in terms of extra-high voltage submarine and underground cables. The Middle East is an important market as it accounts for around 20% of the global demand for extra-high voltage cables, it said, adding that infrastructure investment has largely been delayed in recent years due to low oil prices.

“As Bahrain has recently discovered a submarine oil field worth 80 billion barrels and the government is making efforts for industrial development at a national level, we expect to gain more contracts based on this project,” said LS Cable CEO Roe-Hyun Myung.

Read 2216 times Last modified on October 23, 2018