LS Cable & System wins turnkey subsea cable order in Malaysia worth 60 billion won

According to The Financial News, LS Cable & System announced on the 27th that it has won a turnkey subsea power grid construction project worth about 60 billion won from Tenaga Nasional Berhad (TNB), Malaysia's state-owned power utility.
The project aims to expand a 132-kilovolt (kV) subsea power grid between peninsular Malaysia and Langkawi, a major tourist island, to secure more stable power supply. LS Cable & System will not only supply the cables but also handle the entire process, from design and material supply to laying and construction, demonstrating its advanced turnkey capabilities.
LS Cable & System competed against several global companies for this order. The company noted that, following the earlier "Langkawi Phase 1 Project," winning this second-phase project as well proves its unrivaled engineering expertise.
The success in securing the second-phase order is seen as the result of the trust and competitiveness built by successfully completing the previous project. Large-scale subsea power grid projects are currently underway across Southeast Asia, as the region pursues the construction of the ASEAN Power Grid (APG) to interconnect national power networks.
Industry sources expect the global subsea cable market to grow to around 34 trillion won by 2030. The Asia-Pacific region, with its many islands, is projected to account for roughly 20 trillion won of that total and to drive overall market growth.
LS Cable & System plans to use this project as a springboard to strengthen its overseas project track record while also stepping up its push in the domestic market. For large national projects such as the West Coast Energy Expressway, for which bidding is expected to open in the first half of this year, the company intends to work with LS Marine Solution to showcase its distinctive turnkey bidding capabilities.
An LS Cable & System official stated, "We are building trust in the global market based on our past project experience and accumulated technological expertise," adding, "Leveraging our proven turnkey capabilities, we will successfully carry out backbone network projects at home and abroad and solidify our leadership in the subsea cable market."
one1@fnnews.com Reporter Jeong Won-il Reporter