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LS Cable & System, the nation’s top power cable-maker, said Tuesday it had signed a 25 billion won ($23 million) power cable supply contact with Energinet Fredericia, Denmark’s national power transmission system operator.
Under the deal signed Monday, the company will supply a 300-kilometer-long high-voltage underground cable for the Danish project to modernize and improve the transmission system of the greater Copenhagen area by the latter half of 2016.
“Through the deal, the company will further advance into the European power cable market, eyeing submarine power cable projects,” LS Cable & System executive vice president Lee Heon-sang said.
Under the deal signed Monday, the company will supply a 300-kilometer-long high-voltage underground cable for the Danish project to modernize and improve the transmission system of the greater Copenhagen area by the latter half of 2016.
“Through the deal, the company will further advance into the European power cable market, eyeing submarine power cable projects,” LS Cable & System executive vice president Lee Heon-sang said.
Europe is one of the most important markets for high-voltage power cable-makers as the region has continued to seek modernization and improvement of its power transmission systems over the past decade.
The Korean cable-maker has increased its business domain in Europe since it entered the European market in 2008 by setting up a sales branch in the U.K. as part of its efforts to expand beyond Asia and the Middle East. The company is currently doing business in France, the Netherlands and Italy, focusing on supplying high-value-added power cable products, including high-voltage direct current transmission solutions.
By Seo Jee-yeon (jyseo@heraldcorp.com)
