LS HongQi Wins $53M Kuwait Cable Contract and Expands Global Projects
LS HongQi Cable & System, a subsidiary of LS Cable & System (LS C&S), has secured a $53 million contract in Kuwait. This LS HongQi Kuwait cable contract marks the company’s first major entry into the Middle East market and signals a broader push into international projects.
To begin with, LS HongQi will supply extra-high voltage underground cables to Kuwait’s Ministry of Electricity and Water. This project represents a major milestone, as it accounts for more than half of the company’s recent annual revenue.
LS Cable & System (https://www.lscns.com) acquired a 91.5% stake in LS HongQi in 2009. Since then, the company has expanded its focus beyond domestic demand in China and into global infrastructure markets.
Expanding International Cable Projects
Meanwhile, LS C&S has also secured a $60 million aerial cable project in Bangladesh. The company will manage the project on a turnkey basis, covering everything from cable manufacturing to pylon construction.
The project is set to begin this year and will conclude by June 2020. In addition, LS C&S has already secured more than $100 million in international orders, including a prior $46 million Bangladesh contract for underground cable systems.
As a result, the company continues to strengthen its presence in global cable infrastructure projects and expects further growth in overseas markets.
