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Photo = LS Marine Solution |
[Alpha Biz= Kim Jisun] LS Marine Solutions, a leading specialist in undersea cable installation, announced on April 28 that it has signed an undersea cable installation contract worth $15.8 million (approximately 227 billion KRW) with Taiwan Power Company (TPC). This marks the company’s first overseas contract.
The project is part of Taiwan’s government-driven initiative to build offshore wind farms, with a total capacity of 5.6 gigawatts (GW) set for completion between 2020 and 2025. The successful bid for this contract positions LS Marine Solutions advantageously for future stages of the project, including the upcoming 2nd and 3rd phase tenders, valued at an estimated 2.5 trillion KRW.
LS Marine Solutions’ competitive edge lies in its ability to offer turnkey solutions in collaboration with its parent company, LS Cable & System. With LS Cable already supplying $1 billion worth of undersea cables for the first phase of Taiwan’s offshore wind project, LS Marine Solutions is poised to capture further opportunities in the region.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
