LS C&S contracts LS Marine Solution for a cable laying service agreement for the Bigeumdo Island Submarine Connection Project. The company will lay submarine cable layer GL2030 spanning 7 kilometers undersea at a cost of approximately USD 2.3 million.

Aug 29, 2023

LS Marine Solution announced that the company has signed a cable laying service agreement with LS C&S for the ‘Bigeumdo Island Submarine Connection Project.’ This project will lay power cables across an area of approximately 7 km under the sea between the Bigeumdo Solar Power Plant in Shinan-gun, Jeollanam-do, and Anjwado Island. The submarine cable layer GL2030 will be used in the project and the contract is worth USD 2.3 million (approximately).

LS C&S won the bid for this project as a turnkey project (integrated project) this past January. LS Marine Solution will participate in the project as a service provider laying cables under the sea. GL2030 is equipped with a dynamic position (DP) control system. Through this system, the accuracy of laying cables will be improved and vessels will be able to maintain stable operation despite the effects of climate change, such as strong winds and high tides.

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LS Marine Solution previously concluded an agreement to lay submarine cables with LS C&S for the ‘Jeju Three-connection Submarine Cable Project’ and has now won the bid for the Bigeumdo Island project as the company continues to work together with LS C&S.

Mr. Lee Seung-yong, CEO of LS Marine Solution, stated, “Based on our experience of working together with LS C&S in Korea, we are planning to expand into projects overseas such as the Taiwan Offshore Wind Farm Construction Project.”

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LS Marine Solution is also increasing its investments and improving its businesses. Approximately USD 6.9 million was invested for the modernization of cable laying equipment and the company is also reviewing the potential for securing additional vessels in the future. The company recorded USD 45.3 million (approximately) worth of orders in just the first half of this year, which is approximately a 150 percent increase from last year’s sales (USD 32.3 million), as the company continues to grow.