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LS Cable & System wins turnkey contract for an overhead cable project abroad 2017-11-16
■ Contract for PGCB in Bangladesh worth $60 million
■ LS C&S will more actively participate in overhead cable turnkey projects abroad
 
Anyang, November 16, 2017 – LS Cable & System announced that it has won a contract for an overhead cable project worth $60 million from the Power Grid Company of Bangladesh.  
 
For this turnkey project, LS Cable & System will not only manufacture and supply all the products but also construct the transmission towers. Overhead cables are installed using transmission towers or poles and are mainly used for long-range power transmission as opposed to underground cables that are installed in urban centers. Installation of the project will commence in the first half of next year and is scheduled to be completed by June 2020.
 
In the past, LS Cable & System’s overseas turnkey projects mainly centered on underground and submarine cables. For overhead cables, it has been difficult to win a project exceeding $100 million through the supply of products only.
 
Compared to underground cables, overhead cables require a relatively lower installation cost, so they are the preferred choice throughout the world not only in Asia and Africa, but also North America and Europe. However, for engineering works and transmission tower construction, it is necessary to sufficiently understand the site conditions and be able to handle various issues concerning site purchases and complaints from local residents. As a result, overhead cable projects have been mainly implemented by large-scale EPC companies rather than cablemakers.  
 
“We were requested by the Power Grid Company of Bangladesh (PGCB) to be the sole implementer of this project based on the trust we have built through the underground cable projects we completed,” said LS Cable & System CEO Roe-hyun Myung. “Starting with this project, LS Cable & System will now more actively participate in overseas overhead cable projects worth billions of dollars.”
 
This year, LS Cable & System won contracts totaling over $100 million including a $46 million project from PGCB to expand an underground power network in an urban center in September with a loan from the AIIB. It was an outcome achieved in less than one year since the establishment of a branch office in Bangladesh in January this year.
 

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