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LS Cable & System wins contract to export subsea cable to Singapore

Staff Writer |
LS Cable & System said it won a 62 billion won ($54.69 million) contract with Singapore's energy agency to export subsea cables, the first such project to be won by a South Korean firm in Southeast Asia.

The contract is for 1.5 kilometers of high-voltage underwater cable connecting Singapore's northern new town of Woodlands with Malaysia's southern resort city of Johor Bahru. It will replace an aged cable laid by a French company in 1985.

Only about five companies worldwide, including those in Japan and Europe, can install high-voltage subsea cables. LS Cable & System is the only such company in South Korea.

"Demand for underwater cable installation is growing in Southeast Asia to connect island areas," company CEO Myung Roe-hyun said. "By successfully winning this contract in a competition with leading global cable companies, we will be able to gain a favorable position in Southeast Asia."

LS Cable & System was chosen last month to supply high-voltage cables for Singapore's construction of a next-generation power grid.

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