Gaon Cable Enters U.S. Transmission Grid Market, Seeks Local Overhead Line Production
TECHWORLD ·
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Gaon Cable is entering the U.S. transmission grid market by pursuing investment in overhead line production facilities at its U.S. production subsidiary, LSCUS.
It plans to broaden its U.S. business beyond distribution, which had been the core of its existing U.S. operations, into transmission.
LSCUS is expanding its MV and LV cable production lines and plans to broaden its local supply chain through local overhead line production.
Gaon Cable is entering the U.S. transmission grid market and expanding its North American power infrastructure business. On the 29th, the company announced plans to invest in overhead line production facilities at its U.S. production subsidiary, LSCUS. The move is aimed at expanding its existing U.S. business, which has centered on distribution, to include transmission.
As the South Korean government prioritizes a U.S. gas combined-cycle power project as its first investment project in the United States, construction of the gas-fired plant will require LV cables inside the plant and MV cables connecting the plant and substation. A transmission grid for delivering power to demand centers will also be built.
In line with this trend, LSCUS is expanding its MV and LV cable production lines. The first phase of the expansion is scheduled for completion in October this year, and the second phase is slated for completion in the first half of next year. It is also pursuing a plan to newly establish overhead line production facilities.
Through this, LSCUS plans to broaden the scope of its local supply chain to the transmission grid sector. Gaon Cable said it plans to expand its U.S. business from distribution to transmission by pursuing local production of overhead lines.
Gaon Cable said this overhead line investment will allow it to expand its business areas. The expanded scope runs from the internal power grid of power plants to transmission grids.
Gaon Cable expects synergies with LS GreenLink's extra-high-voltage submarine and underground cable business. It is also considering entering the nuclear power cable market in preparation for increased investment in nuclear power plants in the United States, and plans to expand related business step by step in line with project schedules and market conditions.
Jeong Hyeon, CEO of Gaon Cable, said the company will strengthen the local supply chain from transmission to distribution, centered on LSCUS, and expand its push into the U.S. power infrastructure market.
Source: TECHWORLD · Lee Gwang-jae
Original: https://www.epnc.co.kr/news/articleView.html?idxno=407473
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Source: TECHWORLD
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