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LS Cable wins 370 bln-won deal from Singapore

2017/06/19 14:44

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SEOUL, June 19 (Yonhap) -- LS Cable & System said Monday it has won a 370 billion-won (US$327 million) deal to supply submarine high-voltage cables for a Singaporean state project, the biggest contract ever clinched by the South Korean wire and cable maker.

Under the deal with Singapore Power, LS Cable will provide 230-kilovolt extra-high-voltage submarine cables to cover five sections of Singapore that reach up to 360 kilometer by the end of 2020, according to LS Cable.

The cables will be used to supply electricity in the region, it added.

LS Cable won the contract on a full turnkey basis, which means the company will deliver the cables, as well as take charge of installation and testing.

The South Korean cable maker expressed hope that the Singaporean contract will help the company secure more deals overseas, making further inroads into Asian countries, as well as France.

LS Cable Asia, the company's Vietnamese unit thaat has the No. 1 market share in the country, is currently expanding its presence in Myanmar, the company said.

khj@yna.co.kr

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