May 11, 2024
Industrials
LS Cable to start production of submarine cables in U.S. deal
[THE INVESTOR] LS Cable & System said March 26 it plans to start the production of submarine cables next month in its deal signed in January with the New York Power Authority.
Under the US$47 million contract, the South Korean wire and cable maker plans to supply its U.S. counterpart with undersea cables that will replace old cables, which were planted between 1958 and 1970 and stretch out to around 10 kilometers.
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The installation is scheduled for between September and November.
LS Cable is ”considering expanding investment in the country as the demand for its products are likely to increase in line with President Donald Trump‘s plan to improve infrastructure,“ a company official said.
The firm first entered the U.S. market in 2006.
By Park Han-na and wires (hnpark@heraldcorp.com)
