LS Cable & System Wins Undersea Cable Projects Worth $100 million In The U.S. and Canada

LS Cable & System Wins Undersea Cable Projects Worth $100 million In The U.S. and Canada

LS Cable & System (LS C&S), has won an exclusive contract for undersea cable projects worth $100 million in the U.S. and Canada.

Under the deal, the company will provide undersea cables worth $47 million to the New York Power Authority (NYPA). The project will allow LS Cable to supply cables for Lake Champlain between New York and Vermont.

The cable manufacturer also recently won a $54 million contract to provide undersea cables for Canada's eastern province of Prince Edward Island.

"LS Cable is successfully penetrating the undersea cable market in North America, based on our decade-long expertise as an extra-high voltage cable supplier to the U.S.," Yoon Jae-in, president of the company's American business unit, said.

The company said there is huge potential in the U.S., with increasing demand to replace the country's outdated power cables.  The lifecycle for an undersea cable is between 30 to 50 years.

"We have a strong foothold in the Asian market, and aim to diversify our revenue channels not just into North America, but into Europe and Africa too," an LS Cable official said.  The company recently won a $57 million contract supplying 345-kilovolt underground power transmission cables to a U.S. company.

The cable manufacturer operates Asia's largest undersea cable manufacturing facility in Gangwon Province.   The company makes power transmission cables, undersea cables and electrical components.

source : You are not allowed to view links. Register or Login