LS C&S Asia begins cable factory construction in Myanmar

South Korea’s cable maker LS Cable and System Asia on Tuesday said it broke ground on the local cable manufacturing facility in Myanmar.

LS C&S Asia is expected to complete construction of the cable factory by November next year. The 19,800-square-meter factory will be built in the Thilawa Special Economic Zone.

LS C&S Asia’s cable manufacturing facility there would first focus on producing low-voltage cables to cover demand in the local market.

Fifty percent of cable demand in Myanmar relies on imports. The cable market in Myanmar is expected to post an annual growth rate of 10 percent.

“LS C&S Asia plans to make a series of investments in the factory and add facilities to produce mid- and high-voltage cables in the future,” said Shin Yong-hyun, CEO of LS Cable & System Asia.

To construct the cable facility, LS C&S Asia and its subsidiary Gaon Cable in May forged the joint venture LS-Gaon Cable Myanmar, with $18 million of investment. 

By Shim Woo-hyun (ws@heraldcorp.com)