LS Marine Solution launches Malaysian subsea cable-laying project, steps up push into overseas power grid market

[Financial News] LS Marine Solution is expanding its push into overseas power grid markets by launching a subsea cable-laying project in Malaysia, following one in Taiwan. The company is deploying a cable-laying vessel with increased loading capacity to strengthen its ability to handle long-distance, high-capacity projects.
LS Marine Solution said on the 14th that it would load subsea cables for the Langkawi project in Malaysia onto its cable-laying vessel GL2030 at Donghae Port in Gangwon Province. After loading is complete, GL2030 is scheduled to head to Malaysia and finish laying the cables by the end of the year.
The project was awarded to LS Cable & System by Tenaga Nasional Berhad (TNB), Malaysia’s power company. It will connect mainland Malaysia and Langkawi Island with 132-kV-class subsea cables.
This is the first project for which GL2030 will be deployed after a retrofit that increased its loading capacity from the previous 4,000-ton class to the 7,000-ton class. The increased capacity makes it possible to lay 100 km or more of subsea cable continuously, strengthening the company’s ability to carry out long-distance power grid construction projects.
The Langkawi project is LS Marine Solution’s second overseas power project, following the Taiwan Power Company’s offshore wind farm (TPC2). After recently winning a 156.9 billion won contract for the Shinan-Uui subsea cable construction project, its order backlog has grown to about 820 billion won—more than three times last year’s annual revenue of 244.2 billion won.
LS Marine Solution said, “We plan to step up efforts to win major projects at home and abroad, drawing on our vessels’ increased loading capacity and our operational capabilities.” It added, “We expect demand for subsea cable construction to grow as the Shinan-Uui and Taean offshore wind projects proceed in sequence and the West Coast HVDC Energy Highway project also moves forward in earnest.”

[email protected] Hak-jae Kim Reporter