LS Cable to build submarine power cable network in Malaysia

(LS Cable & System)

LS Cable & System Ltd. has secured a 60 billion won ($41.7 million) contract from Malaysia to build a submarine power network, a move that will help expand its market share in the Asia-Pacific region.

LS Cable announced on Tuesday that it has secured a 60 billion won contract from Tenaga Nasional Berhad (TNB), Malaysia’s national power utility, for a submarine power network construction project.

The project involves expanding a 132 kilovolt-class submarine power grid between mainland Malaysia and Langkawi Island, one of the country’s major tourist destinations.

LS Cable will carry out the entire project on a turnkey basis, covering everything from design and material procurement to cable supply, installation, and construction.

The global submarine cable market is expected to grow to 34 trillion won by 2030, with the Asia-Pacific region alone estimated to account for 20 trillion won of that total.