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LS Cable & System Asia Ltd, Large scale cable supply contract to solar power plant in Vietnam 2019-03-25


 

■ $50 million in power cable supply over two years    
■ Securing foundation for expansion of cable supply of new and renewable energy industry


 LS Cable & System Asia Ltd made an announcement on the 25th that its Vietnamese production company LS-VINA Cable & System Joint Stock Co. will supply 50 million U.S. dollars worth of power cables to Vietnam's large solar power plant project.
 
This is about 14 percent of LS-VINA Cable & System Joint Stock Co.'s 2018 sales.
 
LS-VINA Cable & System Joint Stock Co. signed a contract with Vietnamese builder Hoan Son Group to supply medium and low-pressure cables to some 10 solar power plants that will be built in central Vietnam for two years.
 
Hoan Son Group has construction and real estate development as its main business, and continues to take part in Vietnam's projects to build new and renewable energy power plants, including hydroelectric and solar power plants.
 
The Vietnamese government announced plans to expand 3.5 GW power generation capacity in solar power by 2030, which is expected to continue related projects in the future.
 
" LS-VINA Cable & System Joint Stock Co. has been able to successfully enter this renewable energy business as it has been recognized for its technical skills and quality by supplying cables to Vietnam's electricity authorities and construction companies for more than 20 years," the company said. "We will be able to expand supply of cables to Vietnam's renewable energy business based on this order."
 
LS Cable & System Asia Ltd is the No. 1 cable maker in the Vietnamese market. It is expected that sales and operating profit will grow significantly from the previous year by expanding production facilities of copper hulls that are used as conductors of cables in first half of this year after completing investments in medium-pressure cables and bus ducts last year.
 

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