LS Cable Wins US$13 mln Deal in Myanmar

LS Cable & System, a South Korean wire and cable maker, reported it has won a US$13 million deal to supply electric cables to Myanmar.

Under the deal with the Southeast Asian country's energy authority, LS Cable will supply high-voltage cables, the first contract it has clinched in the country.

The Myanmar government is seeking to expand electricity supply infrastructure by spending $9 billion by 2031.

Meanwhile, the company's Vietnamese unit is seeking to get listed on the South Korean stock market.

LS Cable Asia, set up in April this year, has two local operations under its wing and is the largest cable maker in Vietnam with a 30 percent market share.

The company said it expects some 480 billion won from its Vietnamese operation this year with an operating income of 21 billion won.


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