LS Cable & System (LS C&S) has won a government contract that was valued at approximately $82 million to supply both low-voltage and high-voltage power cable to Singapore.
A press release said that LS C&S will supply 400 km of cable though to 2021.The orders were from the Singaporean government, which has been replacing aged cables since 2017. LS C&S noted that has a strong foothold in Singapore, obtaining the biggest market share there. Raising transparency in operation and management of its business there, and active technological support for the past several years, led to winning the deal, it said.
“To overcome the global economic slowdown and the limited domestic demand, we have established a strong foothold overseas as a global company,” LS C&S President and CEO Myung Roe-hyun said. “This deal is a valuable achievement based on past efforts at a difficult time due to the Covid-19 crisis.”
In other news, LS C&S reported that it has begun to ship submarine cable for Taiwan’s offshore wind farms. Last year, it won an order to supply the high-voltage cable for the first offshore wind farm project being built in Taiwan. Some 70 km of cables will need to be installed for the site, which is located off the coast of Yunlin Xian in the west of Taiwan.