Recently, South Korea's LS Cable announced the acquisition of a $ 60 million overhead cable project contract awarded by the Bangladesh Power Grid Company.
For this general contracting project, the LS Cable will not only produce and supply all the products, but also the power transmission towers, which are installed by using transmission towers or poles and are mainly used for long distance power transmission. The project will be launched in the first half of next year. Completed in June 2020.
In the past, LS cable's overseas EPC projects were mainly focused on underground and submarine cables, which were difficult for aerial cables to win over $ 100 million in the mere provision of products.
Overhead cables are relatively inexpensive to install compared to underground cables. Overhead cables are the world's first choice not only in Asia and Africa, but also in North America and Europe, but not only do you have to understand the field situation well , But also be able to deal with various issues related to local procurement and resident complaints.Therefore, the overhead cable project is mainly implemented by large general contracting companies, not cable manufacturers.
'PGCB has designated us as the sole implementer of the project based on the trust we have built in the underground cable project.' Roe-hyun Myung, CEO of LS Cable, said: 'From this project, the LS cable will be more active Participate in multi-billion dollar overseas overhead cable projects.
This year, LS Cable achieved a total contract value of more than $ 100 million, including a $ 46 million project from PGCB to expand the underground power grid in a downtown area, less than a year after setting up a branch in Bangladesh in January this year In the results achieved.