■ Accounting for 70% of Qatar’s largest underground cable project
■ Proving technology as well by winning the contract for 400kV premium cables

 

 
Anyang, August 1, 2017 - LS Cable & System announced that it entered into an agreement with the Qatar Electricity & Water Company to supply extra-high-voltage cables worth KRW219 billion (approx. $200 million). This is the largest extra-high-voltage underground cable project that the Qatar government has ever carried out. It is also the largest underground cable contract that a Korean cablemaker has won in the Middle East.  
 
LS Cable & System won contracts for all types of cables (132kV, 220kV and 400kV) meeting more than 70% of the total cable demand.
 
The Middle East is such an important market in the cable industry that it occupies about 20% of the global demand for extra-high-voltage cables. As large infrastructure investments have been delayed for several years due to low oil prices, however, cablemakers around the world fiercely competed with one another to win contracts.
 
Roe-Hyun Myung, President and CEO of LS Cable & System said with emphasis, “LS Cable & System has not only secured the majority of the quantities, but also had its technology recognized by winning the contract for premium 400kV cables.”   
 
In this project, the Qatar government is investing about $2.3 billion to install 77 substations and 450km of extra-high-voltage cables around the country in order to expand and improve the power grid. As its population is increasing, residential areas in the country are expanding, and as infrastructure investments are increasing due to the 2022 World Cup, demand for power is also increasing continuously.
 
LS Cable & System has been supplying extra-high-voltage submarine and underground cables to Qatar, Saudi Arabia and Bahrain, and has the largest share of the Middle Eastern market. The $435 million submarine cable contract that LS Cable & System signed with Qatar Petroleum in 2012 is still the largest cable contract ever won by a domestic cable maker.