LS Eco Energy Supplies 12 Billion KRW Ultra-High Voltage Cable to Singapore Power Agency

LS Eco Energy announced on the 5th that its Vietnam production subsidiary LS-Vina will supply ultra-high voltage cables worth 12 billion KRW to the Singapore Power Authority starting from the end of the year.

Singapore is considered one of the largest power markets in Asia. It builds its power grid solely with ultra-high voltage cables running underground without transmission towers. Ultra-high voltage cables are high value-added products, leading to fierce competition among global cable manufacturers for contracts in the Singapore market.

LS Eco Energy is expanding its market share in cooperation with LS Cable & System, which holds the number one market share in Singapore. A representative from LS Eco Energy said, "Ultra-high voltage cables have a high operating profit margin in the double digits," adding, "We will improve our performance by expanding the market for high value-added products such as ultra-high voltage cables."

An LS Eco Energy employee is manufacturing high-voltage cables.
[Photo by LS Eco Energy]

Industry insiders expect the power market to grow further as the Singapore government pursues policies to expand eco-friendly energy sources such as offshore wind power.

LS Eco Energy stated, "We are discussing cooperation plans with PetroVietnam Group, the Vietnamese state-owned company leading the subsea power grid construction project between Vietnam and Singapore."