Wirenet Image Band
wirenet.org mobile image band

Wire Journal News

December 19, 2017

LS & Cable reports news of 2 contracts, 1 in Kuwait, the other in Bangladesh

Written by
Rate this item
(0 votes)
LS HongQi Cable & System, the local manufacturing unit of LS C&S in China, announced that it has won a Kuwait cable deal worth approximately $53 million. Per reports in The Pulse and The Korea Herald, the deal signed with the Ministry of Electricity and Water in Kuwait calls for LS HongQi to provide extra-high voltage underground cables. They noted that this represents the first such order that the company has secured from the Middle East. LS C&S acquired a 91.5% stake in LS HongQi in 2009. The new contract for LS HongQi amounts to more than half of all the company’s last annual revenues. The company, at that point, had mainly covered local cable demand. "LS HongQi C&S has strived to clinch deals in the overseas markets," said Myung Roh-hyun, CEO of LS C&S Asia. "The company expects to log additional deals in the overseas markets." In other news, LS C&S reported that it has won an order for aerial cables worth $60 million from Bangladesh. A press release said that the cables are to be provided on a turnkey basis in which it will be is responsible from cable production to pylon construction. The project is to start this year and be completed by June 2020. "The new project would serve as an opportunity for us to aggressively participate in aerial cable projects overseas," said Myung Roh-hyun, chief executive of LS C&S. The company has so far clinched orders worth more than $100 million, including a $46 million contract in Bangladesh it signed last September to add more underground cables in urban areas.
Read 144 times
 

Contact us

The Wire Association Int.

71 Bradley Road, Suite 9

Madison, CT 06433-2662

P: (203) 453-2777