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LSIS wins $9.1 million deal to build an electric substation in Ecuador

Collected: 2016.08.03

Distributed: 2016.08.04

Source: Go Direct

[Photo by LS Industrial Systems]

LS Industrial Systems Co. (LSIS), a South Korean electric power systems provider, said on Tuesday that it has won a $9.1 million order to build a 230 kilovolt substation in Portoviejo, a western costal city in Ecuador. The company signed the deal at the headquarters of Corporacion Electrica del Ecuador (Celec EP), the South American country’s state-owned electricity provider, in the capital city of Quito. Among the attendees were Seo Jeong-min, head of overseas electric transmission business at LSIS, and Luis Ruales Corrales, head of Celec EP.

According to LSIS, the substation project is based on investment by Inter-American Development Bank. Under the contract, LSIS will be in charge of engineering, procurement, and construction management (EPC) and will aim to complete the project by November 2017.

Based on the latest deal, LSIS hopes to expand its presence in Central and South American markets including Peru. An unnamed official from LSIS said that the EPC agreement in Ecuador will allow the company to tap further into the local market.

By Yoon Jin-ho

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