LS Cable & System will soon secure the largest submarine cable laying barge in Korea to reinforce its eco-friendly business.
LS Cable & System is planning to strengthen its position in the submarine cable business through the acquisition of its first submarine cable laying barge, the 8,000-ton GL2030, to proactively prepare for the rapidly growing offshore wind power generation projects being developed at home and abroad.
With the investment in GL2030, LS Cable & System will become the only company in Korea to have both a submarine cable plant and a submarine cable laying barge. Globally, there are only a handful of companies that can produce and lay extra-high-voltage submarine cables in Europe.
“As there has been no submarine power cable laying barge in Korea, we have had difficulties adjusting the construction schedule and securing quality,” said a company official. “If we operate a cable laying barge on our own, we will be able to accumulate know-how and enhance our construction expertise.”
GL2030 will be used first for domestic projects starting in the first half of 2022. As a submarine cable laying barge with the latest specifications equipped with a ‘precision shop position control system,’ GL2030 will raise the submarine cable laying competency of Korea to the next level.
Also, by owning the ship directly, LS Cable & System believes that it will be able to freely adjust its operation schedule so that it will be better able to expand its participation in forthcoming submarine cable projects in East and Southeast Asian countries.
Myung Roe-Hyun, President & CEO of LS Cable & System, said, “In line with the global spread of carbon-neutral policies, we are increasing our eco-friendly business, and continuously investing to secure our global competitiveness.” LS Cable & System also announced its recent ESG management vision and its plan to invest KRW190 billion in its submarine cable plant in Donghae City.
Image source: Courtesy of LS Cable & System
Read more Subsea cable news here