LS Electric Signs 32.7 Billion KRW Contract to Supply Thailand Railway Signaling System

"Local Market Share 50%... Full-Scale Market Penetration Begins"

LS Electric announced on the 2nd that it has been selected by the State Railway of Thailand as the contractor for the railway signaling system construction project for the 177 km section connecting Ban Phai and Nong Phok in northeastern Thailand. The contract amount is 32.7 billion KRW.

LS Electric won a 32.7 billion KRW contract on the 2nd to build a railway signaling system for the 177km Ban Phai? section in northeastern Thailand in collaboration with the State Railway of Thailand. Park Woo-beom, Executive Director of LS Electric's Power Business Division (second from the right), and other officials are taking a commemorative photo.
[Photo by LS Electric]

The project is valued at approximately 55.4 billion baht (about 2 trillion KRW). It is the first section of the second phase of the double-tracking railway project with a total length of 354 km connecting Ban Phai, Nong Phok, and Saphan Mittrapap in Thailand.

Thailand is actively promoting the double-tracking railway project to expand freight and passenger transportation capacity through the development of the railway network in the northeastern region.

LS Electric entered the local market as the first Korean company by winning the first phase (ST1) of the Thailand railway modernization project in 2001. Since then, it has successfully completed the fourth phase (ST4) in 2007, the fifth phase (ST5) in 2015, and the Eastern Line and Northern Denchai-Ngao section projects in 2020.

With this recent contract award, LS Electric’s local market share has reached 50%, and the cumulative contract amount has exceeded 200 billion KRW.

LS Electric plans to intensify its local market penetration as the railway infrastructure improvement projects in ASEAN countries including Thailand are expected to show rapid growth.

Thailand operates a total railway length of 4,346 km. To alleviate traffic congestion in Bangkok, it plans to build nine urban railway lines by 2029.

An LS Electric official said, "With the post-COVID era seeing active expansion of infrastructure such as railways in Southeast Asia, we will do our best to expand business orders through the expansion of railway platforms based on digital transformation (DX) technology."

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