Photograph 1) Panoramic view of LS Eco Energy’s production plant in Vietnam

Photograph 2) LS Eco Energy CI

 

■ Connecting half of the country, anticipating to resolving power shortage in the north
■ Vietnam's only extra-high voltage cable producer strengthens its top position as the market leader.
■ The Vietnamese government actively participates in expanding power grids and building offshore grids.


LS Eco Energy (CEO Lee Sang-ho) announced on the 9th that its Vietnamese production subsidiary LS-VINA recently supplied approximately 2,000km of overhead lines to Vietnam Electricity (EVN).

Overhead lines are cables installed on towers and poles, and this supply will be used for the about 600km long main transmission network connecting northern and central Vietnam. The project plays a vital role in connecting nearly half of the country along Vietnam’s long and narrow terrain.

The northern part of Vietnam suffered from a serious power shortage last year, to the point where it implemented a planned blackout for two hours every day. This project is expected to contribute greatly to solving the power shortage by sending electricity from the central region to the north.

The Vietnamese government plans to expand its power facilities from the current 100GW to 500GW by 2050. To this end, it plans to invest more than 20 trillion won by 2030, and the cable demand alone is expected to reach about 2 trillion won.

 “As LS Eco Energy is the only company in Vietnam with the capacity to produce extra-high voltage cables, it has the competitive edge to actively participate in the government’s infrastructure expansion project,” said the company. “As the number one company in the Vietnamese cable market, we expect to see continued sales growth.”

“In Vietnam, we are also planning a project to connect the North and South with HVDC submarine cables to resolve the power shortage in the North,” said Mr. Lee Sang-ho, CEO of LS Eco Energy. “We will seek various business opportunities in line with the growth of the power market and further strengthen our position in the market.”

Driven by the growth of the Vietnamese domestic market and increased overseas exports, LS Eco Energy achieved its best performance ever in the first half of this year, recording sales of KRW 412.5 billion and operating profit of KRW 24.4 billion.