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LS Tower. (Photo courtesy of LS Cable & System) |
[Alpha Biz= Kim Jisun] LS Cable & System announced on Monday that it has secured ultra-high-voltage cable supply contracts in the United States worth a combined total of approximately ₩700 billion.
According to the company, the contracts were signed through its North American subsidiary, LS Cable System America (LSCSA), and consist of two projects: a 345-kilovolt (kV) underground ultra-high-voltage cable contract valued at around ₩317.3 billion, and a subsea ultra-high-voltage cable contract worth approximately ₩369.2 billion.
The underground cable project is scheduled to run through October 2029, while the subsea cable supply will continue until April 2030. The cables will be delivered to end customers in North America via LSCSA. At the request of the clients, the names of the contracting companies and specific project details have not been disclosed.
LS Cable & System has been expanding its high-voltage power infrastructure business in response to surging electricity demand driven by the rapid growth of artificial intelligence (AI) data centers and the global transition toward renewable energy. The company is particularly focused on increasing orders for high value-added products with significant technological barriers to entry, such as high-voltage direct current (HVDC) subsea cables.
To support long-term growth in the North American market, LS Cable & System has also begun securing local production capacity, including plans to build a manufacturing facility in the United States with mass production targeted for 2028.
Meanwhile, its holding company, LS, continues to post solid performance on the back of strong demand for power infrastructure. Last year, LS recorded consolidated revenue of ₩31.825 trillion and operating profit of ₩1.0565 trillion, maintaining steady growth momentum.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
