LS Cable & System Asia collaborates with PTSC for submarine cable project

CEO of LS C&S Asia Lee Sang-ho and the President of PTSC Le Manh Cuong take a commemorative photograph at LS Yongsang Tower in Yongsan-gu, Seoul. [Courtesy of LS Cable & System]

LS Cable & System Asia Ltd., a subsidiary of South Korea’s leading cable manufacturer LS Cable & System, has partnered with Petrovietnam Technical Services Corp. (PTSC), a key subsidiary of Vietnam Oil and Gas Group, to venture into submarine cable projects.

The two parties signed a memorandum of understanding (MoU) for the cooperation on Thursday.

PTSC is a provider of petroleum-related technical services, including exploration, port operations, and wind power facility installation and operation. The company is engaged in a submarine cable construction project between Vietnam and Singapore.

LS Cable & System Asia and PTSC plan to explore opportunities for underwater projects in the Association of Southeast Asian Nations (ASEAN), starting with Vietnam.

Vietnam is currently working on the construction of a large offshore wind power complex, aiming to be among the top 5 in Asia with a capacity of around 6 gigawatts by 2030.

“With the latest MoU, we have secured the opportunity to lead the submarine market in Vietnam based on our experience and capabilities established over the past three decades,” said an official from LS Cable & System Asia.