LS Marine Solution (060370.KS) has begun laying subsea power cables in Malaysia.
The company said on Oct. 14 that it is loading subsea cables bound for Malaysia's Langkawi project onto the cable-laying vessel GL2030 at Donghae Port in Gangwon State.
The Langkawi project, led by Tenaga Nasional Berhad (TNB), Malaysia's state utility, will connect the mainland with Langkawi Island using a 132-kilovolt subsea cable. It is LS Marine Solution's second overseas power cable supply contract, following work at a Taiwan Power Company offshore wind farm (TPC2).
The GL2030 was upgraded from a 4,000-ton loading capacity to 7,000 tons and is being deployed for the first time since the retrofit. It will sail to Malaysia and complete the installation within this year. The expanded capacity allows the vessel to lay more than 100 kilometers of subsea cable continuously.
LS Marine Solution plans to sustain its growth through projects in Taiwan and Malaysia as well as at home, including the Taean and Shinan offshore wind farms and a high-voltage direct current (HVDC) energy highway project on the west coast. Its order backlog stands at 820 billion won ($570 million), more than triple last year's revenue.
"We hold the only track record in the country for HVDC subsea cable installation," an LS Marine Solution official said. "We will expand our participation in core power grid projects, including the west coast energy highway."