Thursday 13 December 2018

LS HongQi seals $53m Kuwait cable supply deal

SEOUL, December 13, 2017

LS HongQi Cable & System, the Korean manufacturing unit of LS C&S in China, said it has been awarded a 58 billion won ($53 million) contract by Kuwait's Ministry of Water for the supply of ultra-high-voltage underground cable.
It is the first ultra-high-voltage cable project that LS HongQi Cable has won in the Middle East, said the company in a statement.

As per the deal, LS HongQi Cable will provide 132 kV cable turnkeys throughout Kuwait from next year to 2019.

Underground cables are commercialised up to 500 kV, and the higher the voltage, the more technology is required for product development and construction, it stated.

Kuwait, like other Middle Eastern countries, is experiencing an increase in electricity demand due to the expansion of the city and population growth.

However, the number of electric power infrastructure projects declined by hundreds of billions of won due to the fall in oil prices over the past several years, it stated.
"LS HongQi Cable has been steadily winning orders from last year by changing its business model from domestic sales to overseas markets such as the Middle East and Asia," said a spokesman for the company.-TradeArabia News Service

Tags: Kuwait | cable supply |

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