LS Cable & System said Wednesday that it won a 200 billion won ($182 million) contract to supply 230kV extra- high-voltage undersea cables to Venezuela’s state-run power firm, Corpoelec, becoming the first Korean firm to enter the submarine cable market in South America.
The company said the successful bid proved its capabilities as a general engineering company for submarine power cable systems.
With the rising demand for electric power in South America boosting electric cable sales, LS C&S is expected to get more contracts with other countries in the region, company officials said.
(
amazingij@heraldcorp.com)
