LS Cable & System Asia has signed a supply contract worth $10 million with Dong Energy, a Danish state-controlled utility and offshore wind farm developer, the company said Thursday.
LS C&S Asia‘s supply contract is part of the $35 million deal made between its parent company LS Cable & System and Dong Energy in April 2016.
With the contract, LS C&S Asia is to provide power cables to the European market for the second time.
LS Cable & System Asia
In 2016, LS C&S Asia provided cables worth 12.7 billion won to Energinet, a Danish national transmission system operator for electricity and natural gas, in a subcontract of the 23 billion deal.
LS C&S Asia is a holding company of LS-VINA and LSCV in Vietnam, where the demands for power cables are currently high.
“LS C&S Asia expects its 2017 sales and operating profit to increase by 15 percent on-year,” LS C&S Asia CEO Shin Yong-hyun said.
By Shim Woo-hyun (ws@heraldcorp.com)
