LS Cable & System announced on June 19 that it received a 370-billion-won ultra-high voltage cable order from Singapore, the largest among cable orders received by Korean companies. The value of this order is equivalent to 12 percent of the company's 2016 sales which stood at 3,075 billion won.
Under the terms of this deal signed with Singapore PowerGrid, LS Cable & System will install 360 kilometer-long underground cables in Singapore. The 230-kilovolt (kV) cables will be installed 60 meters below ground and cover major sections of the city-state by 2020.
This was the largest cable order ever placed by the Singaporean government. After competing with rivals from Japan and China, LS Cable & System finally clinched the order. For LS Cable, the previous largest order was worth 100 billion won it obtained from Qatar in 2011.
Ultra-high voltage cable refers to one that can send 66-kV-plus electric power which is more than 300 times stronger than 220 volts used mainly for homes.