S. Korea's LS C&S Awarded 100-B Won Electrical Cable Deal in Singapore

LS Cable & System won a contract worth 100 billion won to supply high- and low-voltage cables that will stretch 400 kilometers through Singapore, through 2021.

The orders have been placed by Singapore PowerGrid to replace aged high-voltage cables.

The replacement order is the second for LS Cable & System from the Singaporean government.

LS Cable & System accounts for 60 percent of Singapore's 200 billion-won high-voltage cable market and is the biggest cable provider in that Southeast Asian nation.

LS Cable & System President and CEO Myung Roe-hyun called the deal a valuable achievement, especially during a global economic slowdown where there is limited domestic demand.

The company credited its efforts transparency in operation and management of its business there and active technological support for clinching the deal.

Last month, LS Cable & System received a 66 billion won order for submarine cables from the United States.