Korean-based cable specialist LS Cable said it has won a contract from Singapore Electric Power Company for submarine cables worth some 62 billion won (approximately $55 million).
According to the company, this is the first case in which South Korean firm export ultra-high voltage submarine cables to Southeast Asia.
LS Cable will provide submarine cables for the 1.5 kilometers link between Singapore’s northern new town of Woodlands and Malaysia’s southern resort town of Johor Bahru.
The project is intended to replace the submarine cables laid by French cable companies in 1985, over the past 30 years, some of which have been worn out and some of which have already been shut down, LS Cable explained.
“The demand for submarine cables connecting Southeast Asia is continuously growing, and the demand for Southeast Asia is growing, especially as the industry develops,” Myung Roe-hyun CEO of LS Cable said. “By successfully winning this contract in a competition with leading global cable companies, we will be able to gain a favorable position in Southeast Asia.”