LS Cable & System secures $137 mil. power cable order in Singapore

Officials from LS Cable & System test its high-voltage power cable at the firm's factory in Gumi, North Gyeongsang Province, in this undated photo. Courtesy of LS Cable & System

LS Cable & System has secured a high-voltage power cable order worth 200 billion won ($137 million) from Singapore’s national electricity provider, the company said Thursday.

The contract with Singapore PowerGrid allows LS Cable to enhance its global presence in the underground power cable market.

The project is part of a large-scale energy infrastructure initiative to transmit solar-generated electricity from Indonesia to Singapore.

LS Cable will supply its 230-kilovolt high-voltage underground cables. The company clinched the contract on a turnkey basis, meaning that it will be involved in all stages of the project, including cable manufacturing, construction and installation, the company said.

The LS affiliate is also in talks to win an additional underground cable order worth 150 billion won there. If finalized, the total contract will be valued at 350 billion won.

"The project strengthens our position in the underground cable market and opens opportunities to expand into the submarine cable sector," an official from the company said.

"LS Cable outpaced its rivals amid toughening global competition in the market, as we have been recognized for our tech prowess and credibility from our client," the official said. "The latest order will help us attract more orders for value-added power cables in Singapore and other countries."

LS Cable & System and LS Eco Energy have maintained their leading position in Singapore’s high-voltage cable market for over a decade. LS Eco Energy is also seeking a partnership with Vietnam’s state-run Petrovietnam to transmit offshore wind power from Vietnam to Singapore via submarine cables.