SEOUL, October 24 (AJP) - South Korea's LS Marine Solutions said on Friday that its subsidiary, LS Buildwin, has been awarded a contract worth about $60 million to build a high-voltage underground power network in Singapore.
The project, undertaken in partnership with LS Cable, will involve the construction of a 230-kilovolt underground power network designed to strengthen Singapore’s national grid amid surging electricity demand from artificial intelligence and data centers. LS Buildwin will handle the cable installation, while LS Cable will supply the cables.
Under the arrangement, LS Marine Solutions will oversee the submarine cable work, creating what the company described as an integrated “manufacturing-to-construction” value chain that enhances its global competitiveness.
The new contract adds to a growing order book for LS Marine Solutions, which now totals about $525 million — roughly five times its revenue from a year earlier — as the company wins major power infrastructure projects across Asia, including in Singapore and Taiwan.
“As the only domestic specialist in both submarine and underground cable installation, LS Marine Solutions is reinforcing its construction capabilities through collaboration with LS Cable,” a company spokesperson said. “We aim to drive technology-based growth in the global market.”
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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