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LS C&S bags $36 mn submarine cable deal in Malaysia

2018.09.04 13:35:36 | 2018.09.04 13:39:37
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[Photo provided by LS Cable & System Ltd.]

[Photo provided by LS Cable & System Ltd.]

South Korea’s leading cable maker LS Cable & System Ltd. said Tuesday it has clinched a 40 billion won ($35.9 million) order to build submarine power cables for Malaysia, bolstering its presence in the Southeast Asian market previously dominated by Japanese players.

Under the engineering, procurement and construction contract, the Korean company is to install a 28 kilometer-long underwater cable that would run as deep as 20 meters below sea level, near the western coastal state of Perlis and the Langkawi archipelago.

The new cable is expected to nearly double the power supply of the Langkawi islands, said the company.

The bid, initiated last September, had drawn a number of major European cable names. LS Cable & System said its wide portfolio of submarine cable projects in the Middle East, Europe and North America appears to have been a decisive factor in landing the deal.

“The Southeast Asian market has long been a Japanese stronghold but we’ve been making significant progress in the region, securing two large deals there in a row,” said an official from LS Cable & System.

In July 2017, the company won an underwater cable order from Singapore in a deal worth about 62 billion won.

By Hwang Soon-min and Kim Hyo-jin

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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