LS Cable & System announced that the firm will invest USD 96 million to set up local plants in North America and India. The cable maker will build a new power cable production facility in Tarboro, N.C., in the U.S., while adding a power cable production line to its existing plant in India.

The investment of USD 60 million will be made through Superior Essex, LS Cable & System’s U.S. subsidiary, to establish a production and sales base for power cable products in the North American market. The firm receives the state government’s incentives for localizing there. Superior Essex was acquired in 2008, and LS Cable says it expected to benefit from its human resources, customer relationships and technology.

This investment is part of the company’s global strategy to expand further into the U.S., one of the largest power cable markets in the world. LS Cable expects the groundbreaking ceremony for the power cable plant will take place at the end of May and production to begin in 2012. In the early stage, the firm will focus on producing low- and medium-voltage cable products before shifting to high-voltage cables.

The rest of the investment worth USD 36 million will go to a power cable production line which will be added to LS Cable’s communications cable plant in Haryana. The firm expects the expansion to complete within 2011 and the production to commence in 2012. LS Cable aims to become the largest cable manufacturer in India by 2015, generating sales of USD 136 million from the power cable business alone.

LS Cable’s President and CEO Son Jong-ho said in a statement, “With power business localization, LS Cable & System will secure a foundation for entry into both advanced and emerging power markets. Starting from this investment, the company will accelerate its march towards becoming the Global No. 1 by 2015.”