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