Strengthening Presence in Indian Market
LS System & Cable will build a new telecommunication module production line in India next year to strengthen its presence in the rapidly growing Indian market, the company announced on Nov. 21.
LSCI's Indian subsidiary, LSCI, plans to build a telecommunication module plant with a total floor space of 6,000 square meters on a site in the Bawal Industrial Complex, Haryana of northern India in 2020.
Founded in 2008, LSCI posted 108.9 billion won in sales last year, an increase of 46.5 percent over the previous year, while surpassing 100 billion won in annual sales for the first time. This year, the company shows a steep growth curve, particularly in the ultra-high voltage cable market in which it was allowed to participate in 2017.
LSCI's market share in India's ultra-high voltage cable was only 5 percent in 2017, but this year it has risen to 30 percent. To keep the growth momentum, LSCI expanded its ultra-high voltage cable production line in April, ramping up its production capacity from US$40 million annually to US$70 million.
In the meantime, LS System & Cable announced on the day that it will establish a power cable joint venture in Egypt with M.A.N. International Contracting, a local cable contractor. The company plans to complete the joint venture in an industrial city near Cairo by the end of 2020 and produce overhead power transmission lines.