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LS Eco Energy to supply high voltage cables to Singapore Power 2024-03-05

Photograph) LS Eco Energy's employees producing high-voltage cables.

■ Accelerating business expansion through cooperation with Singapore market leader LS Cable & System
■ Improving performance through increased sales of high voltage cables with double-digit operating margin
■ Promoting cooperation in submarine cable project with PetroVietnam Group

LS Eco Energy (CEO Lee Sang-ho) announced on the 5th that the company will supply high voltage cables to Singapore Power.

LS-VINA, a production company in Vietnam, plans to supply cables worth about 12 billion won from the end of this year. 

Singapore plans to build a power grid using only underground high-voltage cables, without transmission towers. As Singapore is considered one of the largest power markets in Asia, the competition among global cable companies is fierce.  

LS Eco Energy is expanding its market through cooperation with LS Cable & System, which has the largest market share in Singapore. 

“The operating profit margin for ultra-high voltage cables is in the double digits, which is somewhat high,” said a company official. “We will improve our performance by expanding the market for high value-added products such as high voltage cables.”

According to industry predictions, the size of Singapore's electricity market will further expand due to the Singapore government's policy of expanding eco-friendly energy sources such as offshore wind power. 

According to the company, “Vietnam’s state-owned PetroVietnam Group is pursuing the Vietnam-Singapore submarine power grid project, and the company is discussing cooperation plans with the PetroVietnam Group.”