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LS C&S’ Chinese subsidiary LS HongQi C&S wins order from Kuwait

Collected: 2017.12.12

Distributed: 2017.12.13

Source: Go Direct

[Photo provided by LS HongQi Cable & System Co.]

South Korea’s leading cable maker LS Cable & System Ltd., said Tuesday that its Chinese unit LS HongQi Cable & System Co. signed a deal worth $53 million to provide extra-high voltage underground cables to Kuwait’s Ministry of Electricity and Water, the first order that the company has secured from the Middle East.

LS C&S acquired a 91.5 percent stake in LS HongQi in 2009. Under the agreement, LS HongQi will supply 132kV cables to Kuwait over the next two years on a turnkey basis. An official from the company said that the deal was the outcome of its hard work to change its domestic demand-oriented business model to the overseas business-driven one. LS C&S will continue to make efforts to help LS HongQi win more projects in Asia, Africa and Latin America.

By Woo Je-yoon and Choi Mira

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