이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
LS Cable wins $67 mn orders to supply high voltage cables to Saudi Arabia
- Collected
- 2016.10.12
- Distributed
- 2016.10.13
- Source
- Go Direct
The Korean cable company signed a $40 million contract and another $27 million contract with an Engineering, Procurement, and Construction (EPC) company, which would conduct the project.
Saudi Arabia commands the biggest power demand in the Middle East, along with Qatar and Kuwait. The Korean company has had the largest market share in extra-high voltage cable market in the Middle East since the late 2000s. The company has supplied submarine cables and underground power cables with the capacity of more than 380 kilovolts.
“With increasing urban population and new town development, we have made utmost efforts for marketing in the Middle East as we expect that the region would expand investments in power grid in the future,” said Yoon Jae-in, president of the company. With decreasing demand in the domestic cable market in the 2000s, cable manufacturers have aggressively targeted foreign markets. The company signed a contract worth $100 million to supply submarine cables in the U.S. and Canada early this year.
By Jung Wook
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