LS Cable & System Asia, a production corporation of LS Cable in Vietnam, announced on May 25 that the company will supply US$ 10.07 million worth of ultra-high voltage cables to DONG Energy, a state-run energy company in Denmark.
LS Cable & System Asia signed a 132kV cable contract with the Danish Electricity Authority last year to make a foray into the European high voltage market for the first time. This deal is the company’s second contract with a European company. The contract proved that the quality of the company’s products and safety management system is at the level of that of LS Cable, the parent company of LS Cable Asia, in Europe, which is the center of cables, the company explained.
Cables to be supplied by LS Cable & System Asia are 1.5 km long distance cables that have about three times the length of ordinary high-voltage cables. In Europe, long distance cables are preferred in Europe since they cut down on construction cost such as connection material and installation cost and periods.
"When the expansion of telecommunication cable production lines is completed at LSCV Plant in Ho Chi Minh City at the end of this June, our sales to Viettel, the largest telecom operator in Vietnam, will balloon beginning in the second half of this year," said Shin Yong-hyun, CEO of LS Cable & System Asia. A boom in the Vietnamese economy and a hike in copper prices will empower LS Cable's sales and operating profits to grow 15% year on year to the highest level ever this year. "