LS Cable & System (President & CEO Ja-Eun Koo) is the first Korean cable maker to enter the South American submarine cable market. LS Cable & System announced on March 13 that it would supply 230kV extra-high-voltage submarine cables to the state power corporation of Venezuela (CORPOELEC).
These cables will connect the 40km distance between Chacopata in the inland state of Sucre and Margarita island, and be used to supply electric power in the region.
LS Cable & System won this contract on a full turnkey basis, including not only the delivery of cables, but also installation works and tests. Its capabilities as a general engineering company for submarine power cable systems as well as its production technology were recognized once again.
As the demands for electric power increased and the power grid is getting old in South America, the demands for power cables including submarine cables are expected to increase. Accordingly, if LS Cable & System completes this project successfully, it expects to be able to win additional orders for submarine cables from other South American countries.
“We won orders in South America as well as in Europe and the Middle East. It proves that LS Cable & System has firmly established itself as a world-class submarine cable maker both in name and reality,” said Mr. Jae-In Yoon, director in charge of the Sales Division at LS Cable and System. “We will concentrate our energies on making inroads into new markets by capitalizing our high-value-added products like submarine and extra-high-voltage cables.”
Meanwhile, LS Cable & System won the Qatar project worth KRW500 billion in 2012, the largest export contract for domestic cable makers, and won the submarine cable project for efficient power supply between Long Island and Captree Island to the East of New York, and finished this project at the end of 2011. LS Cable & System won major submarine cable projects in succession: e.g. the 20㎸ submarine power cable installation project over the 10km span from Tidore Island to Ternate Island in the archipelago to the north of Indonesia, and the 33kV submarine cable installation project as part of the Malaysian SARAWAK insular area electrification project. When it comes to local projects, the company won the following projects successively and finished these projects successfully: installation of 250kV submarine cables over the 105Km section between Jeju and Jindo, the submarine power grid between Hwawon and Anjwa, the pilot wind power generation complex in Woljeong-ri, Jeju-do, and the Jeolla-namdo Jangjuk-Sudo tidal current power generation complex submarine cable project.
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Press Release, March 13, 2013