LS Cable Asia Wins Cable Supply Contract Worth 47.5 Billion KRW in Vietnam

[Asia Economy Reporter Ki-min Lee] LS Cable Asia announced on the 15th that its Vietnamese subsidiary LS-VINA (LS Vina) will supply cables worth 40 million USD (approximately 47.5 billion KRW) for the construction project of the largest petrochemical plant in Vietnam.

LS Vina is supplying power cables for the petrochemical construction project being developed on Long Son Island in Vung Tau Province, southern Vietnam.

The company explained that it has continued to secure large orders by demonstrating excellent quality, including winning a contract worth 71.2 billion KRW for the Nghi Son thermal power plant project in Vietnam.

LS Vina's current order backlog in the power sector has increased by 70% from 70.5 billion KRW in the first quarter of this year to 120 billion KRW. The company expects a performance rebound in the second half of the year, overcoming the impact of the novel coronavirus disease (COVID-19) in the first half.

A company official said, "The Vietnamese market is facing a power shortage, so large power plant projects are expected to continue emerging," adding, "Additional orders are also anticipated."

This content was produced with the assistance of AI translation services.