[THE INVESTOR] LS Cable & System said on July 17 that it won a 62 billion won (US$54.69 million) contract with Singapore‘s energy agency to export subsea cables.

The contract is for 1.5 kilometers of high-voltage underwater cable connecting Singapore’s northern new town of Woodlands with Malaysia’s southern resort city of Johor Bahru. It will replace an aged cable laid by a French company in 1985.

Only about five companies worldwide, including those in Japan and Europe, can install high-voltage subsea cables. LS Cable & System is the only such company in Korea.

LS Cable & System was chosen last month to supply high-voltage cables for Singapore’s construction of a next-generation power grid.

By Alex Lee and newswires (alexlee@heraldcorp.com)