Substation Services
LS Industrial Systems (LSIS) has won a large scale contract as part of the Bismayah New City Project (BNCP) to build electricity infrastructure in Iraq. This is the largest-ever overseas deal worth US$147 million (161.2 billion won) for the company.
LSIS announced on May 10 that it won the contract to construct Gas Insulated Switchgear (GIS) substations as part of the Bismayah New City Project (BNCP) in Iraq, which is led by South Korean construction firm Hanwha Engineering & Construction (E&C). The BNCP is the biggest new city development project proposed by the National Investment Committee (NIC) of Iraq. Investing a total of US$10 billion (10.97 trillion won), it will be completed in 2019.
LSIS signed the US$147 million (161.2 billion won) contract with Hanwha E&C, which heads this project, to supply electricity equipment to the GIS substations. It is LSIS’ largest overseas project for a single contract.
Under the deal, the company will build the entire GIS substation solution by 2019, which will charge the supply of electric power in the Bismayah region, including two 132kV substations, six 132kV transmission substations, and 24 33kV distributing substations.
LSIS is raising the status of South Korean electric components manufacturer in the Iraqi market, in which was monopolized by global companies, such as Siemens and ABB, until now. After the first deal in 2011, the company obtained the orders of electrical infrastructure including substations and smart grids, and won a total of US$500 million (548.3 billion won) worth of projects in Iraq as of last year.