[Photo provided by LS Cable & Systems Ltd.]
South Korea’s leading cable manufacturer LS Cable & Systems Ltd. won a $126 million order to supply extra-high voltage cables from Bahrain’s Electricity & Water Authority, a move that is expected to lead to more similar deals from the Middle East country, the company said on Thursday.
The Korean cable company said it has won the contract at a turnkey basis, which means that it is responsible for all the process of setting up power networks across the island country in the Persian Gulf, ranging from the supply of 400-kilovolt (kV) power cables to related installation and construction.
LS Cable said it was able to win the latest contract after it had successfully completed multiple power cable projects in Bahrain for the past ten years. It expects the latest order would allow it to obtain more similar orders from the Middle Eastern country, which has been keeping up nation-wide efforts to accelerate modernizing and developing industries after the discovery of an 80-billion barrel oilfield in the spring, the biggest since the 1930s.
LS Cable has been stably maintaining its lead in the Middle Eastern cable market. In Qatar, the company clinched a 500 billion won ($437.3 million) submarine cable deal in 2012 and a 220 billion won extra-high voltage cable deal in 2017.
By Woo Je-yoon and Lee Ha-yeon
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