LS Cable gains Bangladesh $ 60 million overhead cable project
Recently, South Korea's LS Cable announced the acquisition of a $ 60 million overhead cable project contract awarded by the Bangladesh Power Grid Corporation (PGCB).
For this general contracting project, LS Cable will not only produce and supply all of its products, but will also build transmission towers. Overhead cable transmission tower or pole installation, mainly for long-distance transmission. The project will start in the first half of next year and is scheduled to be completed by June 2020.
In the past, LS cable overseas contracting projects mainly concentrated in underground cables and submarine cables. For overhead cables, it is hard to win more than 100 million U.S. dollars only by offering products.
Compared with the underground cable, overhead cable installation costs are relatively low. Overhead cable is the world's first choice not only in Asia and Africa, but also in North America and Europe. However, for the construction of engineering and transmission towers, not only must the situation on the ground be fully understood, but also various problems concerning local procurement and residents' complaints should be dealt with. Therefore, overhead cable projects are mainly implemented by large general contracting companies, not cable manufacturers.
"PGCB has designated us as the sole implementer of the project based on the trust we have built in the underground cable project." Roe-hyun Myung, CEO of LS Cable, said: "Starting from this project, the LS cable will be more active Participate in the multi-billion-dollar overseas overhead cable project. "
This year, LS Cable gained more than $ 100 million worth of contracts, including a $ 46 million project from PGCB to expand the underground power grid in a downtown area. This is the result of less than a year of establishing a branch in Bangladesh in January this year.