On High-growth Path
LS Cable and System announced on March 3 that it has won a 100-billion-won submarine cable order from Bahrain.
The project involves laying submarine cables between Bahrain’s main island and Hawar Island, which is located 25 km southeast. LS Cable and System won the order from Al Gihaz, a Saudi Arabian engineering, procurement and construction (EPC) company and will take on the entire process from product supply to electrical and installation work. The project is scheduled to be completed in September 2021.
This project is part of an eco-friendly project promoted by the Gulf Cooperation Council (GCC). LS Cable and System fiercely competed to land the order with European and Japanese cable makers which wanted to expand their business opportunities.
LS Cable and System explained that it could win the order thanks to its experience of carrying out global long-distance projects such as the Jeju-Jindo Electric Power Network (105 km) in Korea and its projects in Qatar (100 km) and the United States (35 km).
LS Cable & System invested about 50 billion won in capacity expansion at Donghae Plant in Gangwon Province in 2019 as its business entered a full-fledged growth phase, as shown by its sweeping of 500 billion won worth of submarine cable orders from Taiwan. The second submarine cable factory will be completed later in March.