LS Cable & System won a turn-key contract for a submarine cable project in the U.S. as the first in the cable industry of Korea. LS Cable & System announced on the 28th that the company had won a contract for a 35kV level submarine cable project from National Grid (a power grid operator in the eastern part of the U.S.).
This project aims at successful power supply to Long Island and Captree Island in the eastern part of New York. According to LS Cable & System, the significance of this contract is that it is a turn-key contract covering from cable delivery to installation and completion test. The installation is scheduled for completion by the end of 2011.
Since having developed submarine cable as the first in Korea, LS Cable & System has been briskly performing activities to win contracts. Following a contract for submarine cable installation between Jeju-do and Jindo in 2009, LS Cable & System successively won contracts for a submarine cable network project between Hwawon and Anjwa, a wind power plant pilot complex in Woljeong-ri, Jeju-do and a submarine cable project for tidal power generation complex covering from Jangjuk to Sudo of Jeollanam-do in 2010. In addition, LS Cable & System won a contract for a 20kV submarine cable installation project for 10km from Tidore Island to Ternate Island to the north of Indonesia in 2010 and a contract for a 33kV submarine cable delivery and power grid project in the island areas of Sarawak, Malaysia in 2011. As such, LS Cable & System has been successively winning contracts for major domestic and international submarine cable projects.
Executive Director Jae-In Yoon of LS Cable & System's Power Business Division said, "This contract is a proof that LS Cable & System is advancing as a new power player in the global submarine cable market." He added, "We will strengthen marketing activities further as we forecast a continued increase of new demands in the global market from international power grid connection projects and offshore wind power complexes."