Five Consecutive Wins in Recent 400kV Turnkey Projects
Accelerating Entry into High Value-Added Markets Such as HVDC and Submarine Cables
LS Cable & System Asia has secured an additional order for an ultra-high voltage power grid project in Singapore. This is a turnkey project worth approximately 110 billion KRW, and is regarded as evidence of the company's comprehensive competitiveness spanning from design to construction.
On August 5, LS Cable & System Asia announced that it had signed a contract with SP Power Assets Limited, the Singaporean electricity authority, for the supply and installation of a 400kV ultra-high voltage power grid. This project is part of an inter-country power linkage initiative to transmit renewable energy produced in Indonesia to Singapore, with a contract value of approximately 110 billion KRW.
Daehan Electric Wire is carrying out a 400kV ultra-high voltage power grid construction project in Singapore. Daehan Electric Wire
Singapore is building new power infrastructure to respond to the rising electricity demand driven by the expansion of data centers and artificial intelligence (AI) infrastructure. LS Cable & System Asia will construct a 400kV-class ultra-high voltage underground power grid using a full turnkey approach to deliver electricity transmitted from Indonesia to a substation on Jurong Island, Singapore. This method involves carrying out all processes, including grid design, production, laying, connection, and testing, in an integrated manner. During the selection of contractors, a comprehensive and rigorous evaluation is conducted regarding quality, technical reliability, and engineering capabilities. Notably, 400kV is the highest voltage currently in operation in Singapore, and the selection of a turnkey contractor requires technical expertise and experience comparable to that of 500kV projects.
Based on its track record of supplying 500kV power grids to the United States and other countries, LS Cable & System Asia is the only Korean cable manufacturer to supply 400kV power grids to Singapore on a turnkey basis. With this contract, the company has won five consecutive 400kV turnkey projects recently awarded. Currently, it holds the number one market share in Singapore for projects of 400kV-class and above.
A representative from LS Cable & System Asia stated, "We have once again confirmed our unrivaled competitiveness in Singapore's ultra-high voltage power grid market," and added, "Having firmly established ourselves as a key local supplier, we will accelerate our entry into high value-added markets based on our technological capabilities in strategic products such as HVDC (high-voltage direct current) cable systems and submarine cables."
Meanwhile, last year, LS Cable & System Asia also secured new orders totaling approximately 800 billion KRW, including 230kV and 400kV ultra-high voltage turnkey projects commissioned by the Singapore electricity authority. As of the end of the first half of this year, LS Cable & System Asia recorded an all-time high order backlog of 2.9 trillion KRW and continues to expand its order volume in both domestic and overseas cable markets.
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