A Cable Turnkey Order
LS Cable announced on October 11 that it has won a US$125.55-million ultra-high voltage cable project from the Bahrain Electricity and Water Authority on a turnkey basis.
The project is aimed at building a new power grid across Bahrain to accelerate industrialization and urbanization. LS Cable will supply premium-grade 400kV high-voltage cables and perform all engineering work including electricity and civil engineering work.
The Middle East is an important market that accounts for about 20% of the world's demand for high voltage cables, but low oil prices have delayed large infrastructure investment in the region for years.
LS Cable earned the order despite fierce competition with other companies as the Korean company have successfully completed major grid projects in Bahrain over the last ten years.
LS Cable supplies ultra-high voltage submarine and underground cables to Middle East countries, including Bahrain, Qatar and Kuwait. It is enjoying the largest market share in this region.