LS Elec wins 19.6 billion KRW Thai railway signal system project... Accelerating Asian business expansion

322km Northern Thailand Double-Track Railway Construction Project Section 1 Signal System Contractor
50% Market Share Since First Entry in 2001...Cumulative Orders Exceed 150 Billion KRW

LS Electric announced on the 10th that it has won a 19.6 billion KRW signal system project for Section 1 of the 322km extension construction project in the Denchai-Chiang Rai-Chiang Khong section in northern Thailand, specifically the Denchai-Ngao section. From the left, Danai Phumiwat, Vice President of ITD E&M Business, Pipat Lolat, Vice President and General Manager of ITD Railway Business, and Woo Beom Park, Head of LS Electric Power Systems Business Division, are seen posing for a commemorative photo after signing the contract. (Photo by LS Electric)

[Asia Economy Reporter Moon Chaeseok] LS ELECTRIC has increased its market share in the Asian railway market by winning a signaling system project worth 19.6 billion KRW for the double-tracking railway project in Thailand. This follows last month's success in securing a Taiwan urban railway project.

On the 10th, LS ELECTRIC announced that it had recently won a signaling system project worth 19.6 billion KRW for Section 1 of the 322km extension construction project of the northern Thailand railway line from Denchai to Chiang Rai to Chiang Khong, promoted by the State Railway of Thailand.

The northern Thailand double-tracking railway construction project is worth a total of 72.9 billion baht (approximately 2.7 trillion KRW). LS ELECTRIC will participate as a consortium member together with ITD (Italian-Thai Development), the leading local railway construction company. As the signaling system contractor for Section 1, LS ELECTRIC will oversee the design, manufacturing, and installation of the signaling and communication system. Section 1 is a double-tracking project for the Denchai-Ngao section, totaling 103km, aimed at developing the northern regional railway network and expanding freight and passenger transportation capacity.

LS ELECTRIC first entered the local railway signaling market in 2001 by winning the ST1 project for the first railway signaling modernization and railway control center construction in Thailand, becoming the first Korean company to do so. Since then, it has successfully completed major railway signaling modernization projects, maintaining a market share exceeding 50%. With this recent contract, LS ELECTRIC not only retains its number one position in the signaling system sector of the double-tracking railway project but also surpasses a cumulative local project order amount of 150 billion KRW.

An LS ELECTRIC official explained, "The trust earned through successfully carrying out various railway signaling projects over more than ten years with ITD, a key partner in Thailand's railway business, was the greatest driving force behind winning this contract." He added, "Recently, with the transition to 'with COVID-19' in Asia and increased investment in infrastructure projects, we plan to expand our national railway and urban railway electrical and mechanical (E&M) businesses centered on key railway countries such as Thailand, Taiwan, and Bangladesh."

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